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After decades-long advocacy by developing countries, the establishment of a Loss and Damage (L&D) fund during COP27 was monumental. With the fund still in its infancy, we stress the need to understand the differentiation between the types of finance that are suitable for other forms of climate action from those required for addressing loss and damage. We consider potential applications of the funding in the fields of water resources, energy, transport, human rights and human security. Our sectoral analysis allows us to identify both some of the innovative ways in which loss and damage finance could build the climate resilience of societies while also encouraging the transition to cleaner forms of energy, transport and agriculture. We also suggest that loss and damage finance should be delivered in a way that is attentive to and able to redress …