STATEMENT: In Breakthrough, COP27 Establishes Fund to Aid Vulnerable Countries Facing Severe Climate Damages
SHARM EL SHEIKH (November 20, 2022) - The UN climate negotiations (COP27) held in Sharm El-Sheikh, Egypt concluded with delegates reaching agreement to establish a fund to help vulnerable countries deal with losses and damages from climate impacts. Negotiators also called for countries to accelerate the adoption of renewable energy, but the talks concluded without new, strong language on curbing greenhouse gas emissions or giving developing countries confidence that funding for adaptation is ramping up fast enough to double by 2025.