As negotiators at COP27 wrangle over whether wealthy polluters should help vulnerable nations pay for costly extreme weather events fueled by climate change, a handful of small, European governments has stepped up to offer 'loss and damage' funds.
Attendees sit during the COP27 climate summit in Egypt's Red Sea resort of Sharm el-Sheikh, Egypt November 8, 2022.
Scholz did not specify what the German funding would cover or over which period it would be provided. Countries are expected to formally launch the "Global Shield" later in the summit.at least 50 million euros to tackle loss and damage over the next four years, the government said on Tuesday. The government said its funding would focus on preventing and limiting loss and damage, for example by mapping areas vulnerable to storm surges and by rolling out early warning systems.
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