As hundreds of political leaders join thousands of experts and campaigners in Dubai for the 28th round of UN climate change negotiations, they are facing an increasingly grave set of facts.

Global commitments to reduce greenhouse gas emissions, and the efforts of many governments to deliver on those commitments, are falling far short of what is required to avoid the worst long-term effects of climate change.

In the 12 months since COP27 in Egypt, the impacts of climate change — heat waves, droughts, storms, floods and fires — have intensified.

The most vulnerable countries, and the most vulnerable communities within those countries — women and young people — continue to be hardest hit.

Just two months ago, parts of Vanuatu were devastated by the Category 5 cyclone Lola, which hit seven months after twin cyclones Judy and Kevin wiped out 50 per cent of the country’s GDP, with recovery efforts priced at 80 per cent of GDP.

Yet, despite years of promises, global financing to support those who are most exposed to the worsening impacts of climate change has been woefully inadequate.

Climate change is accelerating and the world’s failure to prepare the most vulnerable countries and communities in advance means there are now clear limits on their ability to adapt.

Things have been lost which cannot be replaced.

Damage has been done which cannot be undone.

#COP28 has delivered a commitment for a new Loss and Damage Fund to support the countries most impacted by climate change. But billions are needed if the fund is to serve its purpose and make a real difference, writes @PScotlandCSG #Commonwealth

And invariably, that loss and that damage have been felt most acutely by those who are always on the wrong side of social, political and economic inequalities: women and young people. This point was underlined by Commonwealth women’s affairs ministers when they met in the Bahamas earlier this year.

Following decades of pressure from vulnerable countries, COP28 has finally delivered a breakthrough commitment for a new Loss and Damage Fund to support the countries most impacted by climate change.

The US$430 million already pledged will help to get it started. But billions are needed if the fund is to serve its purpose and make a real difference for countries like Vanuatu.

It is essential, too, that the fund that evolves is robust, effective and inclusive, and that the most vulnerable countries have a fair and equal say, and its governance has an equal role for women.

This is easier said than done because the power in global political negotiations too often marginalizes the most vulnerable, which is one of the reasons it took so long to get a loss and damage agreement in the first place.

In making the Loss and Damage Fund operational, decision-makers can take confidence from the Commonwealth Climate Finance Access Hub, which has so far unlocked more than $315 million for our most vulnerable members.

The hub is innovative, efficient, replicable and scalable — and crucially, as with all Commonwealth programs, it is governed by member states, for member states, with every country sharing power equally.

If the world can administer a Loss and Damage Fund that shares those characteristics, then we would not only succeed in supporting the most vulnerable and marginalized communities, but we would also create an entirely new approach to climate change governance: breaking down the power dynamics that have so often prevented agreement, building trust and creating fresh momentum for further breakthroughs.

After all, as the women and children of Vanuatu would tell you, we cannot compromise with catastrophe, so we owe it to them to compromise with each other and seize the opportunity that COP28 has presented to help them rebuild their lives.

Patricia Scotland is secretary-general of the Commonwealth. She was born in Dominica and is the first woman to hold the post.