COP27: How will paying for climate damages and losses work exactly?

COP27 in Egypt made a breakthrough on “loss and damage”. Now the work must focus on putting together the nuts and bolts of this third pillar of climate financing, which will take time.

Climate justice activists protesting against the use of fossil fuels on Nov 12 at the COP27 conference in Sharm El-Sheikh, Egypt. PHOTO: EPA-EFE
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We now stand disabused of the notion that climate change is a distant way off.

The endless headlines spotlighting natural disasters in recent months have underscored how this is a here-and-now crisis with massive ramifications for humankind. And few countries will be spared.

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