COP-27: loss and damage funds

THE main aim of the 27th United Nations Climate Change Conference, or COP-27, held at Sharm el-Sheikh, located on the Red Sea coast on the Sinai Peninsula, Egypt in November 6–19, 2022, was to review and update the national climate goals of the parties. The conference, which the United Nations Framework Convention on Climate Change organised with the participation of 197 parties and more than 3,000 observers, was also meant to draw up long-term strategies designed to remove all harmful emissions by the middle of the century to achieve net zero. Roughly speaking, the goal involves taking immediate steps to implement the decisions made at the 2015 Paris agreement which were further refined in Glasgow in 2021. This also includes providing $100 billion each year to developing countries affected by climate change.

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