More than 3 billion people have the potential to benefit from a landmark fund focused on climate-related loss and damage, but access to it will require difficult decisions about who is most vulnerable, according to Nature.

According to The Iran Project,An estimated 3.6 billion people around the world are highly vulnerable to climate disasters and could receive partial compensation from a vast new source of money. In November 2023, during the 28th Conference of the Parties (COP28) in Dubai, United Arab Emirates, countries agreed to establish a climate change loss and damage fund. The fund was launched with contributions of $661 million.

The agreement came after decades of pressure from low- and middle-income countries (LMICs), which bear the brunt of climate impacts, for compensation from rich nations responsible for the lion’s share of carbon emissions.

Zoha Shawoo, a researcher at the Stockholm Environment Institute in Somerville, Massachusetts, says: “This historic decision puts climate justice at the forefront of international negotiations and elevates the voices of vulnerable and marginalised groups.”