COP27 concludes with a historic win for at-risk countries

The United Nations Framework Convention on Climate Change (COP27) concluded Sunday with a breakthrough decision—to establish and operate a “loss and damage fund” for climate change-vulnerable countries.

The fund is historic since, for more than three decades, developing countries have requested developed nations to provide compensation for their past climate change-inducing actions.

Who benefits
Island nations and developing countries—Asia, Africa, Latin America, the Caribbean and South Pacific—that face destructive storms, heat waves, and droughts fueled by global warming will benefit from this fund.

At home
Any compensation for the fund will need Congress’s approval, and Republicans are not ready for it.

“The Biden administration should focus on lowering spending at home, not shipping money to the U.N. for new climate deals,” said John Barrasso, Republican of Wyoming.

The two-week-long COP27 at Sharm el-Sheikh, Egypt, hosted more than 100 heads of state and governments.