Climate compensation fund is defended by researchers in the final stretch for COP27

Researchers told Reuters that channeling climate compensation payments through existing funds will not work for vulnerable communities. According to the group of scientists, a new fund must be created.

This controversial question – how vulnerable countries affected by climate change can be compensated by rich countries – is expected to dominate negotiations at the 2022 United Nations Climate Change Conference (COP27) that begins next week in Egypt.

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Although there are several funds to help countries reduce CO2 emissions, combat floods, rising sea levels and other disruptions linked to climate change, they cannot help countries recover from losses and damages that have already been caused. by natural disasters.

“There are significant gaps in existing climate finance mechanisms that make it important to create a dedicated loss and damage mechanism,” said Ines Bakhtaoui, lead author of the report.

Source: Reuters