Rich countries are trying to hit pause on climate summit's key issue | CNN

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Rich countries are trying to hit pause on climate summit's key issue | CNN
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The past week has given the world a glimpse of what climate-vulnerable countries have long known: while rich countries bend over backwards to pledge their support for climate action, they are far less enthusiastic when it comes to forking over the cash

. At the UN’s COP27 climate summit, the United States, the European Union and the United Kingdom are united against establishing a new fund this year to help the world’s developing nations – which have contributed little to the climate crisis – recover from climate disasters. Developing a so-called loss and damage fund is a key issue at COP27, and “the litmus test for success” of the summit, said Erin Roberts, a climate policy researcher and founder of the Loss and Damage Collaboration.

But Aminath said she doesn’t believe the reluctance to address loss and damage comes down to lack of finance. “We saw that trillions were mobilized to address the global health emergency” during the pandemic, she said, and “we are seeing trillions being spent to help Ukraine.” Representatives from vulnerable countries also told CNN they’re frustrated by wealthy nations’ calls for more analysis and mapping, which would cost money that could otherwise go to addressing loss and damage.

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