Rich nations agree in principle to create climate reparations fund

Rich nations agree in principle to create climate reparations fund

Leaders of wealthy, industrialized countries — some of the world's biggest polluters — agreed on Sunday to create a fund to help poorer nations combat the effects of climate change.

The agreement was negotiated at COP27, the United Nations’ annual climate conference, held in Egypt. It follows years of activist work from human rights experts who’ve noted how highly industrialized nations and major players in the world economy (like the United States, the United Kingdom and Germany) have accelerated climate change that disproportionately impacts poorer nations, worsening inequality to the immense benefit of rich countries. 

The agreement to form a "loss and damages" fund is a big step in terms of holding drivers of climate change accountable for their behaviors.