"This is a testament to the incredible mobilization of vulnerable countries and civil society," said one campaigner. "Much work still to be done but a dam has broken."
A decadeslong pressure campaign by policymakers and advocates in the Global South was credited Sunday with pushing wealthy nations to finally drop their opposition to a "loss and damage" fund to help developing countries that face some of the worst climate impacts, allowing the financing plan to be included in the final agreement out of the meeting.
At the 27th United Nations Climate Change Conference (COP27), negotiators from nearly 200 countries finalized a deal which calls for the creation of a committee to determine how a loss and damage fund will work, which countries should contribute to it, and which governments should benefit from the funding. The committee of representatives from 24 countries has a year to determine the details.
The U.S. was left as the final holdout in the Global North regarding loss and damage this past week, remaining silent when the European Union—another longtime critic of the idea—on Friday proposed a fund that would benefit the most vulnerable countries.