Climate summit close to a deal on compensation

Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks in Egypt: The creation of a fund for compensating poor nations that are victims of extreme weather worsened by rich countries’ carbon pollution.

Several cabinet ministers from across the globe said that agreement was reached on a fund for what negotiators call loss and damage. It’s a big win for poorer nations because they are often the victims of climate disasters despite having contributed little to the pollution that heats up the globe.

“This is how a 30-year-old journey of ours has finally, we hope, found fruition today,” said Pakistan Climate Minister Sherry Rehman.

The US, which in the past has been reluctant to even talk about loss and damage, “is working to sign on,” said an official close to negotiations.

If an agreement is accepted it still needs to be approved in a unanimous decision late into Saturday evening. But other parts of a deal, outlined in a package of proposals put out earlier in the day by the Egyptian chairs of the talks, are still being hammered out as negotiators head into what they hope is their final session.—