Amid all the controversy at COP28, day one saw the first big breakthrough: an agreement on a Loss and Damage Fund providing compensation for poor states affected by climate change. The agreement was met with a standing ovation as millions of dollars were committed by wealthy states, who have also been the planet’s biggest polluters. To be administered by the World Bank, the fund already has commitments of US$430 million. The UAE and Germany committing the largest amounts thus far - US$100 million each - the United Kingdom $75 million, United States $24.5 million, Japan $10 million.