Climate vulnerable developing countries were quietly jubilant today as COP27 in Egypt concluded with a landmark agreement to set up a new fund to address the ‘loss and damage’ being caused to their countries by the climate crisis.
The decision is in particular a win for the Climate Vulnerable Forum (CVF), an informal group of 58 developing country parties representing the interests of 1.5 billion people, which has pushed for years – in the teeth of bitter resistance from developed countries like the US and those in Europe – to have a fund established to provide redress for the impacts of climate change in the most vulnerable developing countries.
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