COP27: Countries approve ‘loss and damage’ fund to help poor countries

Sharm El-Sheikh, Egypt, November 20

Countries agreed early on Sunday at the COP27 climate summit to set up a fund to help poor countries being battered by climate disasters, but delayed approving a wider deal outlining global resolve to fight climate change.

After tense negotiations that ran through the night, the Egyptian COP27 presidency released a draft text for an overall agreement — and simultaneously called a plenary session to gavel it through as the final, overarching agreement for the UN summit.