Prime Minister Narendra Modi on Friday hailed the ‘historic’ decision of the UAE presidency to operationalise the $475 million ‘Loss and Damage’ fund, just moments after the opening of the two-week COP28 climate conference on Thursday. It will compensate countries — especially developing ones — for the impacts of floods, droughts and heat waves.Prime Minister Narendra Modi on Friday hailed the ‘historic’ decision of the UAE presidency to operationalise the $475 million ‘Loss and Damage’ fund, just moments after the opening of the two-week COP28 climate conference on Thursday. It will compensate countries — especially developing ones — for the impacts of floods, droughts and heat waves.