Cop27 agrees to historic 'loss and damage' fund to compensate developing countries for climate impacts

Fund's passage hailed as potential turning point that acknowledges the vast inequities of the climate crisisA historic deal to set up a "loss and damage" fund to pay poorer countries harmed by the impacts of the climate crisis has been agreed to at a UN summit, capping a decades-long fight by climate campaigners and developing nations.The decision marked a breakthrough at the climate negotiations, where for years developing countries have pressed wealthier nations to provide a form of compensation for the droughts, wildfires, floods and other escalating climate impacts they've faced due to the planet-heating emissions that have mostly come from the richest corners of the world. Continue reading...