COP27 Approves Last-Ditch Deal for Historic Climate Damage Fund

The COP27 climate talks in Egypt, which came close to collapse in the closing stretches, ended with an early-hours deal to create a fund to pay poorer countries for the harm caused by climate change.

The agreement on loss and damage is a landmark moment in global climate politics -- an acknowledgment that richer nations are responsible to the developing world for the harm caused by rising temperatures.

But the fractious summit, which took place against the background of a global energy crisis sparked by Russia’s invasion of Ukraine, exposed fault lines on how the world should navigate the transition ...