This draft paper reviews the language in the Paris Agreement and Warsaw International Mechanism, and addresses five parts in the Action Area 7 text agreed by the Warsaw International Mechanism’s Executive Committee. We very briefly review each of these ways to fund loss and damage in straightforward language, we discuss their current applications, their status in UNFCCC, some pros and cons, and how they might be applied to loss and damage. Part 3 reviews and assesses several major tools that have been proposed to raise funding for climate change actions in developing countries. We consider their adequacy, dependability, their feasibility, and we speculate on some of the political opportunities and likely barriers. We conclude by proposing some ways forward on financing loss and damage, focusing on the need to combine and layer different sources of funding and utilizing insurance mechanisms and bonds to accomplish the goals of buffering losses in the most vulnerable nations.