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Reuters
Reuters
Environment
By Jake Spring and Valerie Volcovici

After U.N. climate deal, 'loss and damage' funding two years off

Jennifer Morgan United Nations
FILE PHOTO: State Secretary and Special Envoy for International Climate Action Jennifer Lee Morgan speaks during an interview with Reuters at the Federal Foreign Office in Berlin, Germany October 13, 2022. REUTERS/Annegret Hilse/File Photo

Countries agreed at last month's United Nations climate summit to create a fund to help poor countries damaged by climate disasters, but it will likely take two years to work out where the money will come from, a German climate official said on Wednesday.

The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at the COP27 climate talks in Egypt, overcoming years of resistance from wealthy nations in European Union and United States.

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