In concluding the United Nations Climate Change Conference (COP27) in Egypt, UN climate negotiations delegates have agreed to establish a fund designed to help vulnerable countries deal with losses and damages from climate impacts.

The $2 billion for the African Cities Water Adaptation fund will be mobilized for local communities and entrepreneurs to restore degraded land in Africa. According to a statement from World Resources Institute president and CEO Ani Dasgupta, in the coming year, a transitional committee should set strong guidelines for the fund to address needs and concerns of vulnerable countries. Dasgupta noted that countries “agreed to operationalize the Santiago Network on Loss and Damage, which will provide much-needed technical assistance to developing countries.”

COP27 negotiators also called for countries to accelerate the adoption of renewable energy, but the talks concluded without new, strong language on curbing greenhouse gas emissions. “It is disappointing that the decision mostly copy-and-pasted language from Glasgow about curbing emissions, rather than taking any significant new steps,” Dasgupta said. “WRI research shows that the world is collectively lagging on climate action across every sector. The only way to avoid even more severe climate impacts and keep 1.5°C alive is if we rapidly slash emissions this decade.”

“There is reason for hope after governments came together to protect the more than 3.3 billion people living in areas highly vulnerable to climate change,” he added. “Time is running short, but a livable planet for people and nature is still within our grasp if leaders take bolder action this decisive decade.”

(Photo credit: Getty Images/Liam Matter)