Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks, creation of a fund for compensating poor nations that are victims of extreme weather worsened by rich nations’ carbon pollution
Sharm El Sheikh (Egypt), Nov. 19 (PTI/AP): Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks, the creation of a fund for compensating poor nations that are victims of extreme weather worsened by rich nations’ carbon pollution. “There is an agreement on loss and damage,” which is what negotiators call the concept, Maldives Environment Minister Aminath Shauna told The Associated Press on Saturday. It still needs to be approved unanimously in a vote later today. “That means for countries like ours we will have the mosaic of solutions that we have been advocating for.” “We proposed a text and this actually just has just been accepted, so we now have a fund,” Norway Climate and Environment minister Espen Barth Eide told the AP. New Zealand Climate Minister James Shaw said both the poor countries that would get the money and the rich ones that would give it are on board with the prop
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A potential breakthrough on the thorniest issue at COP27, a fund that pays poor countries for damages from climate change, could finally pave the way for an overarching deal from the climate talks.