"We thought it was so urgent to get something up and running now, while we work globally" through the U.N. system, said Jennifer Morgan, state secretary and special envoy for international climate action in Germany's foreign ministry.Svenja Schulze, Germany's federal minister for economic cooperation and development, representing the G7 nations, said the Global Shield was not "the one and only solution for loss and damage", and would not deal with things like non-economic losses of culture or slow-onset problems like sea level rise.The COP27 climate negotiations are tasked with finding a "concrete" way to deal with rising climate losses for the world's most vulnerable countries by 2024 at the latest.The Global Shield has so far raised $200 million in new funding, largely from Germany, with backers planning to work with vulnerable countries to create tailored packages of help.Mami Mizutori, head of the U.N. disaster risk reduction agency, said putting effective protection systems in place globally is "ambitious" but "we need to do it"."