U.N. climate talks poised for deal creating disaster fund
Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks, the creation of a fund for compensating poor nations.
Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks, the creation of a fund for compensating poor nations that are victims of extreme weather worsened by rich nations’ carbon pollution.
“There is an agreement on loss and damage,” which is what negotiators call the concept, Maldives Environment Minister Aminath Shauna told The Associated Press Saturday. It still needs to be approved unanimously in a vote later today. “That means for countries like ours we will have the mosaic of solutions that we have been advocating for.”
“We proposed a text and this actually just has just been accepted, so we now have a fund,” Norway Climate and Environment minister Espen Barth Eide told the AP.
New Zealand Climate Minister James Shaw said both the poor countries that would get the money and the rich ones that would give it are on board with the proposed deal.
If approved, it’s a big win for poorer nations which have been calling for compensation — sometimes even called reparations — for decades because they are often the victims of climate disasters despite having contributed little to the pollution that heats up the globe.