Growing nations can be compensated for local weather catastrophes after COP27 delegates struck a historic deal to create a ‘loss and harm’ fund.
The fund – one of many few bits of optimistic information to come back out of the summit – will assist poorer nations handle the devastating aftermath of maximum climate occasions attributable to a local weather disaster they’ve barely contributed to.
UK-based marketing campaign group Make Polluters Pay, which places the mixed invoice for 2021’s most expensive local weather disasters at $170bn (£150bn), mentioned the transfer was “undoubtedly a major step ahead within the marketing campaign for local weather justice.”
Nevertheless, it might but show to be a step taken at snail’s tempo – the query of who pays into the fund, and the way a lot, received’t be mentioned till COP28 in a 12 months’s time.
The deal follows Denmark’s pledge on the United Nations normal meeting in September of DKK100m (£12m) for loss and harm. Scotland introduced £2m at COP26 in Glasgow.
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Picture: Neil Palmer/IWMI/Local weather Visuals
Major picture: LFPuntel/iStock