UN climate summit adopts 'loss and damage' fund

By Agence France-Presse

Nov 21, 2022 12:02 am

Sharm el Sheikh, Egypt: The UN's COP27 climate summit approved on Sunday the creation of a special fund to cover the losses suffered by vulnerable nations hit by the impact of global warming.

Delegates applauded after the 'loss and damage' fund was approved by consensus following two weeks of contentious negotiations over demands by developing nations for rich polluters to compensate them for the destruction from weather extremes.

A person walks near a mockup depicting the Earth globe at a booth in the deserted hall at the Sharm el-Sheikh International Convention Center, in Egypt's Red Sea resort city of the same name near the end of the COP27 climate conference on Nov. 19, 2022 (November 20 in Manila). AFP PHOTO

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