After extensive discussions, the delegates at the COP27 summit agreed to set up a loss-and-damage fund to help emerging economies tackle the effects of climate change that have hit them disproportionately. The agreement, although hailed as a step in the right direction, was reached at the expense of stricter emission reduction targets, for which environmentalists had been advocating. “This COP has taken an important step towards justice. I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period,”…
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