SHARM EL-SHEIKH, Egypt — Countries agreed early Sunday at the COP27 climate summit to set up a fund to help poor countries being battered by climate disasters, but paused before backing a wider deal outlining global resolve to fight climate change. ADVERTISEMENTThe session approved the text’s provision to set up a “loss and damage” fund to help developing countries bear the immediate costs of climate-fueled events such as storms and floods. But immediately after, Switzerland called for a 30-minute suspension to allow time to study the new text. For daily comprehensive coverage on COP27 in your inbox, sign up for the Reuters Sustainable Switch newsletter here. RELATED STORIESUN publishes draft COP27 climate dealDespair, elation, confusion: Climate talks go to wireRead Next

Source: Philippine Daily Inquirer November 20, 2022 03:44 UTC