Historic compensation fund approved at UN climate talks
Negotiators early Sunday approved a historic deal that would create a fund for compensating poor nations that are victims of extreme weather worsened by rich countries’ carbon pollution, but an overall larger agreement still was up in the air because of a fight over emission reduction efforts.
The decision establishes a fund for what negotiators call loss and damage. It is a big win for poorer nations which have long called for cash — sometimes viewed as reparations — because they are often the victims of climate worsened floods, droughts, heat waves, famines and storms despite having contributed little to the pollution that heats up the globe.
All these ideas get wiped out 2025 to 2027, the Great Depression v2.0