loss and damage fund

Ian Bremmer's Quick Take: 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.