COP27 Approves 'Loss and Damage Fund' for Poorer Countries Affected by Climate Change
In the early hours of Sunday, November 20, climate envoys at the COP27 summit in Sharm el-Sheikh, Egypt, agreed to establish a fund that would see wealthy countries compensate developing countries severely impacted by climate change.
“History was made today at [COP27] in Sharm El-Sheikh as parties agreed to the establishment of a long-awaited loss and damage fund for assisting developing countries that are particularly vulnerable to the adverse effects of climate change,” summit officials said. “On African soil, the voice of the acutely affected communities were finally heard.”
Footage by Kashmala Kakakhel shows people applauding after the summit’s president, Sameh Shoukry, declared the deal had been approved. Credit: Kashmala Kakakhel via Storyful
Video transcript
- 2022/L20. I hear no objections, it is so decided.
[APPLAUSE]
2022/L20. I hear no objections. It is so decided.
[APPLAUSE]
2022/L20. I hear no objections. It is so decided.
[APPLAUSE]
2022/L20. I hear no objections. It is so decided.
[APPLAUSE]
