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A fund for climate-related loss and damage has been a key point of contention at the Cop27 talks
Climate change EU China
Tom Young
18 November 2022
Follow @PetroleumEcon
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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

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China eyes global collaboration on CCUS
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
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22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
EU’s binding CCS targets: A burden or a blessing?
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
Brazil eyes leadership role in global carbon market
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30

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