UN climate talks open in Egypt, compensation fund on agenda

SHARM EL SHEIKH, EGYPT - Global talks to tackle worsening climate change got under way in Egypt on Sunday against a backdrop of soaring inflation, energy and food price spikes and heightened geopolitical tensions.

COP27 is tasked with scaling up finance to help poorer nations green their economies and cope with increasingly costly weather-related disasters that are driving them deeper into debt. Wealthier states historically share the most blame for the greenhouse gases emitted into the atmosphere that are heating up the planet and supercharging the weather.

The European Union and the United States have in recent months eased their opposition, saying they are willing to discuss loss and damage financing.

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