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COP27: Not good enough

Ian Bremmer's Quick Take: Hi everybody. Ian Bremmer here on a Quick Take to get you kicked off for your week.

I thought I would talk about the Climate Summit, which has just concluded in Sharm El Sheik, the COP27 was not one of the better moments for global climate response. If there was a big win, and I wouldn't call it a big win, but at least it's progress, it's on the establishment of a loss and damage fund and the idea is to use funds from industrialized countries that pay for climate related losses that are already being experienced in the billions and billions of dollars in poorer countries. The developing countries have been demanding the developed world indeed put such a fund together. The problem is of course, that in addition to the reluctance to get it done, just saying that you have such a fund does not have a mechanism for distributing money, a mechanism for raising money, and certainly there is no cash, there's no financing yet. Maybe over time you'll see the private sector make donations into this fund, maybe you'll see some government commitments but for now at least, it's an announcement of intentionality without any there there. That's the big news, right? That's the actual major headline that came out.

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Want to help poor countries now? Open your markets to their farmers | Global Stage | GZERO Media

Want to help poor countries now? Open your markets to their farmers, World Bank chief tells wealthy nations

Many developing countries now face high inflation, especially rising food prices.

What can they do to alleviate some of that pain? Wealthy nations should step in by opening their markets to farmers from poor nations, World Bank President David Malpass says during a Global Stage livestream conversation hosted by GZERO Media in partnership with Microsoft.

"This is a moment to make friends, to help people that ... don't have as much."

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