________ UN Conference of Parties (COP27) of the UNFCCC

Solution

The 27th UN Conference of Parties (COP27) of the UNFCCC closed with a breakthrough agreement to provide “loss and damage” funding for vulnerable countries hit hard by climate disasters. Nearly 200 countries struck a historic deal to establish a new fund for climate “loss and damage” – it will give money to the nations hit hardest by the effects of climate change. Creating a specific fund for loss and damage marked an important point of progress, with the issue added to the official agenda and adopted for the first time at COP27.