Cop27: EU agrees to loss and damage fund to help poor countries recover from climate disasters

Change in stance puts spotlight on US and China, which have both objected to fundA breakthrough looked possible in the deadlocked global climate talks on Friday as the European Union made a dramatic intervention to agree to key developing world demands on financial help for poor countries.In the early hours of Friday at the Cop27 UN climate summit in Egypt, the European Commission vice-president Frans Timmermans launched a proposal on behalf of the EU that would see it agree to establishing a loss and damage fund. Continue reading...