UN Climate Talks Poised For Deal Creating Disaster Fund

UN Climate Talks Poised For Deal Creating Disaster Fund

SHARM EL-SHEIKH, Egypt (AP) — Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks in Egypt: the creation of a fund for compensating poor nations that are victims of extreme weather worsened by rich countries’ carbon pollution.

Several cabinet ministers from across the globe told The Associated Press that agreement was reached on a fund for what negotiators call loss and damage. It’s a big win for poorer nations which have long called for cash — sometimes viewed as reparations — because they are often the victims of climate disasters despite having contributed little to the pollution that heats up the globe.

“This is how a 30-year-old journey of ours has finally, we hope, found fruition today,” said Pakistan Climate Minister Sherry Rehman, who often took the lead for the world’s poorest nations. One-third of her nation was submerged this summer by a devastating flood and she and other officials used the motto: “What went on in Pakistan will not stay in Pakistan.”