Countries at COP27 summit agree to set up a compensation fund for poor nations suffering the impact of climate change. | News24_Business
Followingthat ran through the night, the summit's Egyptian presidency released a draft text of the overall agreement early on Sunday and also called a plenary session to push the document through as the final, overarching agreement for the UN summit.
"This loss and damage fund will be a lifeline for poor families whose houses are destroyed, farmers whose fields are ruined, and islanders forced from their ancestral homes," said Ani Dasgupta, president of the environmental think-tank World Resources Institute, minutes after the early morning approval was announced.An overview of the challenges and opportunities of the climate crisis, as it changes the world we know.
Collins Nzovu, Zambia's minister of green economy and environment, said he was"excited, very, very excited".
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