“Loss and damage.” Negotiators reach agreement at COP27 on climate fund

Negotiations reached a potential agreement at the United Nations climate conference (COP27) for the creation of a fund to compensate the poorest countries that are victims of climatic conditions aggravated by pollution from rich nations.

“There is an agreement on damages,” which is what negotiators call the concept, Maldives Environment Minister Aminath Shauna told the Associated Press (AP).

The creation of the climate fund must be approved unanimously this Saturday.