More than 190 countries agreed to set up a fund that would pay for climate-related damage in vulnerable nations, removing a major hurdle in U.N. climate talks
SHARM EL SHEIKH, Egypt—A deal was struck at United Nations climate talks on Saturday to set up a fund that would pay forin countries deemed particularly vulnerable, officials said, handing a victory to poorer nations that have pushed for the move for years and removing a major sticking point in broader negotiations to address global warming.
The fund would earmark money for what is known as loss and damage: When rising seas, more powerful storms and other effects that scientists link to climate change cause destruction that is sudden or potentially irreparable.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | COP27 Agrees On Loss and Damage Fund for Vulnerable Countries, Officials SayMore than 190 countries agreed to set up a fund that would pay for climate-related damage in vulnerable nations, removing a major hurdle in U.N. climate talks
Read more »
COP27 live updates: Nations poised to agree on historic fund for climate harmsBreaking news: Nations poised to agree on historic climate fund for countries vulnerable to rising seas, deadly heat waves and other impacts
Read more »
What to watch on Friday at COP27The official events at the COP27 climate talks are winding down ahead of the scheduled end date on Friday, but the negotiations for a final deal are dragging on.
Read more »
COP27: Multi-lateral lenders have failed poorest over climate - Commonwealth headThe world's multi-lateral banks have 'demonstrably failed' low and middle income countries when climate disasters hit and need to better assess their vulnerability and resilience when offering support, the head of the Commonwealth told Reuters.
Read more »
'Indiscriminate use of hydrogen' could slow the energy transition, report saysThe report was published during the COP27 climate change summit in Egypt.
Read more »
EU proposes midway path on climate damage fund to unblock COP27 talksClimate negotiators on Friday were mulling a late-night European Union proposal aimed at resolving a stubborn impasse over financing for countries hit by climate-fuelled disasters and pushing this year's U.N. climate summit in Egypt closer to a final deal.
Read more »