About Fund for Responding to Loss and Damage (FRLD):
- It is an international climate-finance fund set up to help developing countries that are particularly vulnerable to climate change respond to economic and non-economic losses, including from extreme weather and slow-onset events.
- It operates under the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC).
- It was established at the 27th Conference of the Parties (COP 27) to the UNFCCC in Sharm el-Sheikh, Egypt, in 2022 and operationalised at COP28 in Dubai, United Arab Emirates, in 2023.
- A Board of 26 members was constituted in 2023, and subsequently, the Philippines was selected as the host of the Board in 2024, while the World Bank was selected to host the Secretariat, and as the Fund Trustee.
- The Board of the FRLD consists of members from Parties to the UNFCCC and Paris Agreement, with members from developed and developing country
- By financing recovery initiatives from climate-related losses and damage, the Fund empowers communities to rebuild and adapt.
- It strives for country-led, locally driven solutions, ensuring interventions are aligned to country needs, priorities, and contexts.
