Under the UN guidance, a transitional committee on loss and damage due to climate emergency has clinched an agreement of recommendations on operationalising a global fund for vulnerable countries and communities on November 4, 2023, in Abu Dhabi (UAE). Despite a formal objection from the US and reservations from other members in the 24-member transitional committee (TC), the final approval is set for the 28^th Conference of Parties (COP28) to the UNFCCC that will be held from November 30 - December 12 at the Expo City, Dubai (UAE).

India intends to be a leader in extending sustainable finance for the development of vulnerable countries.