A fund to deliver financing to places affected by climate-fuelled disasters should be created by the annual U.N. climate summit that opens at the end of November, the lead host negotiator at last year's summit said on Thursday.
at COP27 in Egypt last November, but the deal did not spell out who would pay into the fund or how money would be disbursed.calls from vulnerable states for a loss and damage fund, fearing it could make them liable for historic emissions.
The talks did not tackle contentious issues such as sources of financing or the type of projects the fund would cover, but there was some convergence between delegates over a road map to create a fund, said Mohamed Nasr, Egypt's lead climate negotiator. "Will it be delivering? I think this is a question of how complex this fund will be, and what will be the governing modalities and the working modalities of the fund."
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