SHARM EL SHEIKH, Egypt: A trickle of climate “loss and damage” funding pledges from rich countries at the COP27 summit in Egypt have been welcomed by observers and developing nations, who say they must pave the way for a broad global financing deal. The controversial issue is a key focus of the UN meeting, as a relentless surge of impacts wreak death, destruction and mounting economic losses on developing nations least responsible for planet-heating emissions. It shows that the issue has been acknowledged after years of advocacy,” said Harjeet Singh, head of global political strategy at the Climate Action Network. Scotland, which kicked off the loss and damage pledges last year when Britain hosted the COP26 summit, has also upped its contribution to $8 million. It announced $170 million for the project this week, while Ireland said it would contribute $10 million for 2023.

Source: The Nation November 10, 2022 09:02 UTC