Countries have been deadlocked over the 'loss and damage' fund design.
Britain’s minister responsible for climate negotiations said on Wednesday he believed countries would be able to reach an agreement on which organisation hosts a fund to assist countries recover and rebuild from climate change-driven damage.
Whether the World Bank should host the fund – a position favoured by the US and developed countries – or whether the United Nations creates a new body to run the fund, as developing countries have urged has been among the most contentious issues. “You’ve got issues around where it’s located, I think that can be resolved,” Energy Security and Net Zero Minister Graham Stuart told Reuters in Abu Dhabi following climate talks there.
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