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EU Presents New Climate Fund For Developing Nations, But There’s A Catch

The EU has proposed at the COP27 climate summit the establishment of a so-called ‘loss and damage’ fund for developing countries to help them cope with the effects of climate change, but only in exchange for higher ambitions on emission reduction.    The COP27 climate summit in Egypt, which ends today, has seen days of deadlocked talks on the loss and damage fund, with developing nations insisting there should be a formal adoption of such as fund, not just pledges for monetary support from various developed countries.

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