Climate Negotiators Reach Framework to Aid Vulnerable Countries
- Blueprint would offset loss and damage from extreme weather
- The deal doesn’t demand immediate funding from rich nations
Children walk over muddy ground during drought conditions at Lake Titicaca in Huarina, Bolivia.
Photographer: Marcelo Perez del Carpio/BloombergGlobal climate negotiators reached a framework for a fund to help vulnerable nations deal with loss and damage from increasingly extreme weather, though the breakthrough was marred by sparring over exactly how the program would be funded.
Delegates meeting in Abu Dhabi agreed late Saturday that the World Bank will host a new Loss and Damage Fund on an interim basis for four years — breaking an impasse after months of negotiations. They also set basic guideposts for funding, with developed countries urged to provide support. The discussion next heads to the United Nations climate change summit known as COP28, which starts in Dubai later this month.