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Which of the following Grouping has agreed to establish special Loss and Damage Fund?
A)
G20
B)
BRICS
C)
COP27
D)
ASEAN

Correct Answer :   COP27


On Sunday(20th Nov 2022), the 27th UN Conference of Parties (COP27) agreed for establishing the special “Loss and Damage Fund”. It will make up for the losses suffered by developing nations that are vulnerable to climate change.
 
While addressing the conference COP 27 President Sameh Shoukry said, “I invite the CMA to adopt the draft decision of title funding arrangements for responding to loss and damage associated with the adverse effects of climate change, including the focus on addressing loss and damage contained in the document FCCC/CP/2022/L18FCCC/PA/CMA/2022L20. There are no objects. It is so decided.”
 
Soon after the announcement of the “Loss and Damage” fund was adopted after days of negotiations over the proposal, the delegates present at the COP27 applauded the same.
 
Addressing the delegates at the COP27 on November 18, Sameh Shoukry said, “I remain concerned at the number of outstanding issues, including on finance mitigation, adaptation, loss and damage and their inter-linkages.”.

Source : The Statesman

Published On : November 21, 2022
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