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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.

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Climate justice activists protesting against the use of fossil fuels on Nov 12 at the COP27 conference in Sharm El-Sheikh, Egypt.

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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