Climate Change Finance

Loss and Damage Fund Saves COP27 from the Abyss

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 in the most vulnerable nations.

COP27: Historic Loss and Damage Fund Takes COP27 to the Edge

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.