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While there is no accepted definition of loss and damage within the UN Framework Convention on Climate Change (UNFCCC), the term can generally be understood as the negative impacts of climate change that occur despite, or in the absence of, climate mitigation and adaptation action. Developing countries, particularly small island developing states (SIDS), have been advocating for the setting up of a loss and damage finance mechanism since the adoption of the UNFCCC at the 1992 Earth Summit. The very idea of a loss and damage fund has been a source of contention from its inception because of the term’s legal ramifications regarding liability and compensation. The main contention being developed countries’ concerns that compensating for losses and damages caused by adverse climate impacts may be construed as an admission of legal liability, triggering litigation and compensation claims on a major scale. With the formal establishment of a loss and damage start-up fund at the recent COP

Panel on climate changeUn framework convention on climate changeClimate changeInter governmental panel