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Climate Politics

COP27 Approves Last-Ditch Deal for Historic Climate Damage Fund

  • Agreement comes early Sunday morning following all-night talks
  • Deal falls short of European goals on reducing emissions
Opening Day of The COP27 Climate Conference
Photographer: Islam Safwat/Bloomberg
Updated on

The COP27 climate talks in Egypt, which came close to collapse in the closing stretches, ended with an early-hours deal to create a fund to pay poorer countries for the harm caused by climate change.

The agreement on loss and damage is a landmark moment in global climate politics -- an acknowledgment that richer nations are responsible to the developing world for the harm caused by rising temperatures.