2 chapters across the catalog
European Commission President Ursula von der Leyen announces the EU's contribution to a new "loss and damage fund" at COP28. She emphasizes the need for a strong green bond market and global carbon pricing to fund the transition to clean, homegrown energy.
COP27 Climate Fund and Global Wealth Redistribution
The COP27 climate summit in Egypt concluded with an agreement to establish a "loss and damage" fund to assist vulnerable nations affected by climate change. However, significant questions remain regarding which countries will contribute and how "vulnerable" will be defined. There is a push for wealthy nations like Saudi Arabia, Qatar, and China to contribute, alongside calls for reforms at the IMF and World Bank.
