Recognizes the importance for all countries of averting, minimizing and addressing loss and damage associated with the adverse effects of climate change, including extreme weather events and slow-onset events, and the role of sustainable development in reducing the risk of loss and damage, and in that regard looks forward to the full operationalization of the Santiago Network for averting, minimizing and addressing loss and damage associated with the adverse effects of climate change and the new funding arrangements, including the Fund for Responding to Loss and Damage that was established at the twenty-seventh session of the Conference of the Parties to the United Nations Framework Convention on Climate Change and the fourth Conference of the Parties serving as the meeting of the Parties to the Paris Agreement, held in Sharm El Sheikh, Egypt, for responding to loss and damage to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to loss and damage associated with the adverse impacts of climate change, in the context of relevant decisions of the Conference of the Parties to the Convention and of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement;