Updated November 2025 figuresUNFCCC Fund for Responding to Loss and Damage
Following the money
The Loss and Damage Fund.
Agreed at COP27, launched with initial pledges at COP28 in Dubai in 2023, the Loss and Damage Fund is meant to compensate developing countries for climate harm they did little to cause. Three years on, here is what has actually been pledged, transferred, and paid out.
Total pledged to date
$789m
Roughly double the ~$700m raised in the first weeks after COP28, but still a small fraction of estimated need.
Actually transferred to the fund
$348m
Only 44% of what was pledged had actually reached the fund as of mid-2025, wealthy nations have been accused of delaying payment.
Paid out to affected countries
$0
As of late 2025, no money had been disbursed to any country. The fund's first funding call opened for proposals of up to $20m each, first approvals were expected February 2026.
Estimated annual need, developing countries
$400bn+
A widely cited floor estimate for the true annual cost of climate loss and damage in developing countries, rising toward $671bn by 2030 on some projections.
The gap
$789m pledged. Roughly $400bn owed, every year.
0.2% of estimated annual need
Even taking the full $789m pledged at face value, before accounting for what has and hasn't actually been transferred, it covers roughly one five-hundredth of one year's estimated climate damage in developing countries. And that comparison is generous: the fund is meant to be a standing resource, while $400bn is the cost every single year, indefinitely.
Who has pledged what
Initial pledges, COP28, Dubai.
Country / blocPledgeContext
Germany$100mAnnounced COP28 opening day, 30 Nov 2023
United Arab Emirates$100mCOP28 host nation, matched Germany's pledge
European Union~$145-245mCollective EU Commission pledge, figures vary by tally
United Kingdom$50-75m£40-60m depending on source and conversion date
Denmark$50mCOP28
Ireland$27m€25m, COP28
Norway$25mCOP28
United States$17.5mThe single lowest pledge among major economies
Canada$12-16mCAD, COP28
Japan$10mCOP28
Slovenia$1.5mCOP28
A note on precision. News outlets tallied these pledges at different points during COP28, so country-by-country totals vary slightly between sources, particularly for the EU and UK figures shown as ranges above. For the authoritative, continuously updated, itemised list, see the fund's own official pledge tracker at
frld.org. The totals and disbursement figures elsewhere on this page come from independent financial journalism and are cross-referenced across two sources each.
Notably, France, Italy, Austria and several other countries also pledged smaller amounts at COP28 that were reported in aggregate press tallies but not consistently itemised country by country across sources, so they are omitted here rather than estimated.