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Anchored within the principles of climate justice, this report aims to shed light on how to best operationalize the Loss and Damage (L&D) Fund to achieve its intended goals, with recommendations for the transitional committee. It draws on learnings and best practices from existing funding institutions, and builds on the experiences, insights, and recommendations from practitioners in the field, aiming to consolidate ideas that have proven effective in the past. These encompass diverse areas such as governance forms, access requirements, instruments, and channels, which can potentially be adopted for the new L&D fund.