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An agreement was reached to compensate developing countries for environmental damageSEDI News

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At the COP27 climate conference, an agreement was reached to compensate developing countries for damage caused by climate change.

A historic agreement was reached at the UN COP 27 meeting on climate change in Egypt. Under the agreement, it was agreed to provide compensation to poor and developing countries affected by environmental damage.

Under the agreement, a fund will be established by rich countries and countries that play a major role in climate change. The fund will help countries affected by climate change recover.

The agreement is being hailed as a historic victory for countries affected by climate change. The recent floods in Pakistan and Nigeria have caused a lot of damage and this fund can compensate for their losses. Environmental groups and developing countries have been asking for this agreement for 30 years.

The two-week conference in the Egyptian city of Sharm el-Sheikh was extended after no agreement was reached by Friday.

Cope 27 became one of the longest running meetings. Representatives from nearly 200 countries have participated in this meeting.

The conference also reaffirmed previous commitments to limit global warming to 1.5 degrees Celsius. In order to limit the increase in the Earth’s temperature to 1.5 degrees Celsius, carbon emissions will be reduced rapidly and significantly in the coming years.