Tag: historic deal

Loss and damage fund saves COP27 from the abyss

- Daniel Gutman, IPS -

They were on the brink of shipwreck and did not leave happy, but did feel satisfied that they got the best they could. The countries of the global South achieved something decisive at COP27: the creation of a special fund to address the damage and loss caused by climate change

Historic loss and damage fund takes COP27 to the edge

- Aimable Twahirwa, IPS -

After a tense impasse and many hours of negotiations, almost 200 countries struck a deal to set up a loss and damage fund to assist nations worst hit by climate change – a demand considered not-negotiable by the developing countries. COP27 was extended by a day after negotiators couldn’t agree on

COP27: Historic climate compensation deal approved

- Associated Press -

Negotiators early Sunday approved a historic deal that would create a fund for compensating poor nations that are victims of extreme weather worsened by rich countries' carbon pollution, but an overall larger agreement still was up in the air because of a fight over emission reduction efforts.Talks on the overall