Compensation for the loss and damage suffered by countries on the frontlines of the climate emergency has been a key issue at the recently-concluded COP27 talks in Sharm el-Sheikh, Egypt. Also on the agenda has been how the move away from fuels – or the just transition – will be funded.

After missing their Friday night deadline, negotiators were finally able to reach conclusions on the most difficult items of the agenda, including a loss and damage facility – with a commitment to set up a financial support structure for the most vulnerable by the next COP in 2023 – as well as the post-2025 finance goal, that would reduce emissions faster, and secure assurances from key countries that they will take immediate action to raise ambition and keep us on the path towards 1.5°C, according to UN News.

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