A fund for climate-related loss and damage has been a key point of contention at the Cop27 talks
EU agrees to loss-and-damage fund
The bloc makes negotiating concession as it looks to tie loss-and-damage fund to mitigation
Global climate talks at Cop27 in Egypt entered their last day today with loss and damage an increasingly central part of the agenda. Loss and damage refers to the effects of extreme weather on poorer countries, and the finance needed to address these effects. Poorer countries have been insisting on a loss-and-damage fund throughout the talks—a move resisted by those wealthier nations that would provide the financing. These wealthier countries say a fund will take time to set up and that existing instruments would do the job better. But the EU last night made a significant concession, saying it would agree to a fund on two conditions—that it is targeted towards the most vulnerable nations and
Also in this section
10 June 2025
Eni’s CCUS deal with BlackRock’s Global Infrastructure Partners reflects a growing belief among big investors in the CCUS growth story
3 June 2025
Africa faces challenges in adopting CCS but also has vast potential, with the technology being not just a climate tool but a catalyst for development
2 June 2025
Rather than a simple climate option, CCS is now being seen as a workable solution for Africa’s growth strategy
27 May 2025
EU Parliament and Council both agree to exempt bulk of importers from paying a carbon tax on goods imported into the EU
