The creation of a loss and damage fund, a key demand of the developing countries, was the lone bright spot in the final outcome of COP27, with countries at the Sharm el-Sheikh climate meeting settling for an extremely weak agreement that does little to strengthen the efforts to tackle the main cause of global warming.
There was nothing in the agreement that could lead to greater action on emissions reductions or mobilise greater financial or technological resources to fight climate change. Efforts to inject some stronger provisions on emissions reductions at the last minute on Saturday night did not receive the consent of all parties.
