THE 27th United Nations Climate Change Conference (COP 27) established a loss and damage fund for vulnerable countries hit by climate disasters, reports Athens’ Safety4Sea. In practice, this means that rich nations would pay poorer countries for the damage and economic losses caused by climate change. During the negotiations, the EU supported the idea of contributions from oil and gas companies and levies on air tickets and shipping containers to go towards a loss and damage fund. While the...
https://www.seanews.com.tr/cop27-will-add-costs-to-drive-decarbonisation-progress/195098/