- UN climate negotiations on Sunday offered a sliver of hope and “solidarity” for developing countries battered by increasingly costly impacts of global warming.
- Wrangling over loss and damage has unfolded against the backdrop of an unmet promise by rich nations to provide $100 billion a year starting in 2020 to help the developing world green their economies and anticipate future impacts, called “adaptation” in UN climate lingo.
- Depending on how deeply the world slashes carbon pollution, loss and damage from climate change could cost developing countries $290 to 580 billion a year by 2030, reaching $1 trillion to 1.8 trillion in 2050.
<span>COP27: Financing for climate damages gets a foot in the door</span>
