Shannon Gibson, USC Dornsife College of Letters, Arts and Sciences
The agreement still leaves many unanswered questions, as well as concerns from vulnerable countries about who will qualify, who pays and who is in charge.
Through the Loss and Damage Fund, developed states and major emitters will compensate developing countries experiencing the most devastating effects of climate change. The fund is now operational.
There have been 27 UN COP meetings. Despite these negotiations, the planet is on target to exceed emission thresholds for global warming. Given these failures, why continue with this process?
It’s a landmark agreement, acknowledging for the first time that wealthy countries bear some responsibility to help. But it leaves many unanswered questions.
The big news of COP27 was agreement to establish a fund for ‘loss and damage’. But many lamented the summit’s overall outcome, saying it falls short of a sufficient response to the climate crisis.
When it comes to loss and damage, COP27 negotiations seem likely to reach a dead end. But as we enter the final days of the summit, anything can happen.
Wealthy nations have been reluctant to put loss and damage on the COP27 agenda. If negotiations fail, they could ‘unravel the fragile hopes for climate solidarity’