The United Nations on Monday published a draft text setting out what the COP27 climate summit could agree on the subject of 'loss and damage' financing for countries being ravaged by climate impacts.
The draft text, which could change before it is adopted at the conclusion of the summit and in places contained multiple options, included a reference to the establishment of a new U.N.-administered fund.
a) A new fit-for-purpose fund under the UNFCCC;c) The strengthening of existing operating entities of the Financial Mechanism, recognizing their governance/governing instruments;f) Development finance;i) Humanitarian assistance;Our Standards:
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