Late last week, more than 70,000 delegates from nearly every nation in the world met in Dubai, United Arab Emirates, to begin a two-week climate conference known as the Conference of Parties, or COP28. On the first day of the conference, world nations approved an initial draft of a Loss and Damages Fund, where richer countries will pay towards a fund that can be accessed by developing countries that are particularly vulnerable to the adverse effects of climate change. The United States committed $17.5 million to the fund, the United Arab Emirates committed $100 million, Germany committed $100 million, Japan committed $10 million, and the United Kingdom about $50 million to the fund and close to $38 million for other arrangements.