By decisions 2/CP.27 and 2/CMA.4, the Conference of the Parties and the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement respectively decided to establish a transitional committee on the operationalization of the new funding arrangements for responding to loss and damage and the fund established in those decisions (the Transitional Committee). The Committee was mandated to make recommendations on the operationalization of the new funding arrangements and the fund, including on establishing institutional arrangements, modalities, structure, governance and terms of reference for the fund; defining the elements of the new funding arrangements; identifying and expanding sources of funding; and ensuring coordination and complementarity with existing funding arrangements. The recommendations developed by the Transitional Committee, namely a draft decision, the Governing Instrument for the Fund and recommendations on the new funding arrangements, are included as annexes to the report. The report also contains information on the work of the Transitional Committee in 2023, including on its meetings and on activities that informed its work.