Countries at UN Climate Talks Agree to ‘Loss and Damage’ Fund to Pay for Poor Nations

Egypt's Foreign Minister Sameh Shukri, heads the closing session of the COP27 climate conference, at the Sharm el-Sheikh International Convention Centre in Egypt's Red Sea resort city of the same name, on Nov. 20, 2022. Joseph Eid/AFP via Getty Images

At the United Nations COP27 summit in Sharm el-Sheikh, Egypt, representatives from nearly 200 countries have agreed to set up a “loss and damage” fund intended to help vulnerable countries cope with natural disasters.

The agreement early Sunday will establish a fund in response to “loss and damage associated with the adverse effects of climate change.”