EnergyWatch

EU tries to break COP27 deadlock with offer on loss and damage fund

With a new proposed loss and damage fund, the EU hopes to win climate pledges. Rich countries relish making lofty promises but most often fail to act, says Bolivia, thus urging real fulfillment in support of developing countries efforts to phase out fossil fuels.

Photo: Emilie Madi/Reuters/Ritzau Scanpix

Climate talks in Sharm el-Sheikh edged forward after the European Union offered a plan to break deadlocked climate negotiations in Egypt, proposing a loss and damage finance facility for the most vulnerable countries in exchange for a pledge to phase down oil, gas and coal.

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