The agreement that was feared not to be made. The developed nations have settled on how to help the developing nations with damage due to climate change.
Developed nations agreed early Sunday morning to help developing countries pay for the catastrophic consequences of climate change — a historic agreement reached after weeks of fraught negotiations at this year’s United Nations climate conference in Egypt. The conference hall of weary diplomats broke out in muted applause after COP27 president Sameh Shoukry sealed the deal with a strike of his gavel. Negotiators had just reconvened, deep into the Egyptian night, in hopes of finalizing an agreement that for days had appeared on the brink of failure. Still, a crucial question of which countries must provide financing for the fund and which will be eligible to benefit from it has been left to future negotiations. Nations remain undecided about other elements of the final COP decision, and a draft of the overarching cover decision released Sunday still did not include critical language on the need to phase out all polluting fossil fuels — something that India, the United States, the European Union and many vulnerable countries have called for during this conference.washingtonpost.com
I am sure we will ear more in the following days.