Pacific leaders celebrate Cop27 victory on loss and damage fund after decades of advocacy

Pacific countries have fought for fund to provide assistance to poor nations hit by climate disasters for three decadesPacific leaders and climate activists are celebrating the establishment of a loss and damage financing mechanism in the Cop27 agreement, three decades after they raised the need for such a provision.A loss and damage fund, which would provide financial assistance to poor nations stricken by climate disaster, has been a key ask of Pacific nations - which are among the most vulnerable to the impacts of the climate crisis - for decades in climate negotiations. It was first raised more than 30 years ago by Vanuatu, which the UN has ranked as the country most vulnerable to natural disasters. Continue reading...