Delegates from more than 190 countries have kicked off the United Nations climate summit in Egypt with a deal to discuss compensating poor countries.
COP27 puts climate compensation on agenda
Delegates at the COP27 climate summit in Egypt have agreed after late-night talks to put the delicate issue of whether rich countries should compensate poor countries most vulnerable to climate change on the formal agenda for the first time.
For more than a decade, wealthy countries have rejected official discussions on what is referred to as loss and damage, or funds they provide to help poor countries cope with the consequences of global warming.
COP27 President Sameh Shoukry told the plenary that opens this year’s two-week United Nations conference attended by more than 190 countries the decision created “an institutionally stable space” for discussion of “the pressing issue of funding arrangements”.
At COP26 last year in Glasgow, high-income countries blocked a proposal for a loss and damage financing body, instead supporting a three-year dialogue for funding discussions.