Loss and damage talks break down over push for World Bank to host fund

Low- and middle-income country negotiators accused high-income countries of “running” away from their responsibilities after critical talks on a fund to help vulnerable nations recover from climate disasters ended in a standoff.

The fourth round of negotiations to hammer out how a loss and damage fund would operate closed at an impasse in the early hours of Saturday morning in Egypt, with negotiators from low- and middle-income countries blaming the United States and others for pushing for the World Bank to host the fund.

The 24 members of an internationally representative United Nations transitional committee were tasked with providing recommendations to the U.N. Climate Conference, or COP 28, in Dubai on how the fund will be governed, who will fund it, and who will be eligible to receive money. Their work was due to end on Friday.