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COP27

Crunch COP27 week hinges on battle over climate losses

Developing nations demand that rich countries pay for damages

A demonstrator holds a placard during a protest at the COP27 climate summit in Sharm el-Sheikh, Egypt, on Nov. 12.   © Reuters

SHARM EL-SHEIKH, Egypt -- The second and final week of the COP27 U.N. Climate Conference is set to become a battle between rich and developing countries over compensation for losses stemming from extreme weather events.

Developing nations -- the least responsible for global warming -- are demanding that advanced countries, which industrialized on the back of large historic emissions, pay for the climate-induced economic losses suffered by the so-called Global South.

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