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COP27 closed with ‘historic’ loss and damage deal, but critics say final agreement needed to go further

After negotiations extended into the weekend at the end of COP27 last week, nearly 200 countries finally agreed to establish a new fund for climate ‘loss and damage’ that will provide financial support to vulnerable nations hit hardest by the effects of climate change. However, there was disappointment that no new commitments on phasing out fossil fuels and cutting greenhouse gas emissions were included in the Summit’s overarching agreement.
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