A historic deal named “loss and damage deal” has been struck at the UN’s COP27 summit that will see rich nations pay poorer countries for the damage and economic losses caused by climate change. It ends almost 30 years of waiting by nations facing huge climate impacts. But developed nations left dissatisfied over progress on cutting fossil fuels. “A clear commitment to phase-out all fossil fuels? Not in this text,” said the UK’s Alok Sharma, who was president of the previous COP summit in Glasgow.
