On 20th November 2022, the fourteenth and final day of the COP27 at Sharm-el-Sheikh, Egypt, the parties to the conference agreed to a historic decision to establish and operationalize a loss and damage fund, particularly for nations most vulnerable to the climate crisis.
It is expected that this fund will support
the vulnerable developing countries for losses arising from the adverse effects
of climate change such as droughts, floods, rising seas and other disasters.
As of now, the text has a broad agreement
on the need for financial support from a variety of sources, however it does
not go into the nuances of who should pay into the fund, where this money will
come from and which countries will benefit.
India welcomed the decision and said that “the
world has waited far too long for this”.
A CSR Initiative of
Designed and Executed by
Implemented by
Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
