Negotiators have reached a draft deal on a climate compensation fund at the UN’s COP27 summit in Egypt.
After days of gridlock, the new draft proposal would see countries agree to set up a fund to compensate the vulnerable nations bearing the brunt of climate change. Calls for such a fund have dominated the last two weeks of talks. But the proposal still needs to be voted on by delegates and postpones the key decision of which countries would pay into the new fund until next year’s UN climate summit.
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