Foreign Minister Abdullah Shahid has welcomed the decision of the COP Summit participants to set up a special fund to provide financial assistance to rich countries to compensate for the damage caused by climate change.
Even at the start of this year’s COP27 summit, the biggest issue discussed was compensation for climate damage.
The 200 countries attending the COP summit today agreed to establish a "Loss and Damage" fund to compensate for damage caused by climate change. The fund is designed to compensate small and poor countries for the huge climate damage caused by emissions from factories and other sources in rich countries.
Foreign Minister Shahid said this was a historic achievement for countries like the Maldives. Shahid also thanked Minister Shauna.
Celebrating the achievement in a tweet, Environment Minister Aminath Shauna said the fund is very important for a country like the Maldives that is affected by climate change.
The establishment of a "Loss and Damage" fund to compensate for damage caused by climate change is the first time rich countries in the United States and Europe have agreed to do so. The fund will provide financial assistance to countries most affected by climate change such as the Maldives.
Even at the start of this year’s COP27 summit, the biggest issue discussed was compensation for climate damage.
The 200 countries attending the COP summit today agreed to establish a "Loss and Damage" fund to compensate for damage caused by climate change. The fund is designed to compensate small and poor countries for the huge climate damage caused by emissions from factories and other sources in rich countries.
Foreign Minister Shahid said this was a historic achievement for countries like the Maldives. Shahid also thanked Minister Shauna.
Congratulations to the Maldives negotiating team at #COP27 led so ably by Minister @anuahsa. Thank you for your incredible work in advocating tirelessly in our national interest and that of all #SIDS, and indeed, the entire humanity. @MoEnvmv
— Abdulla Shahid (@abdulla_shahid) November 20, 2022
Celebrating the achievement in a tweet, Environment Minister Aminath Shauna said the fund is very important for a country like the Maldives that is affected by climate change.
We have reached a historic agreement on funding for loss & damage. Truly a win for the multilateral system. This is a complex issue and we need a mosaic of solutions to find a meaningful solution. #COP27
— Shauna Aminath 🎈❓ (@anuahsa) November 20, 2022
The establishment of a "Loss and Damage" fund to compensate for damage caused by climate change is the first time rich countries in the United States and Europe have agreed to do so. The fund will provide financial assistance to countries most affected by climate change such as the Maldives.
