COP27 talks result in agreement for developed nations to pay developing nations penalties for Climate Change consequences

The purpose of COP27, aside from sharing climate change information, is for specific governments to work together to formulate an agreement to help reduce climate change. The COP27 meetings ended with a new agreement that builds on the last meeting's results after negotiations almost collapsed when the EU negotiator almost walked out due to the meeting agreement at the time. So some would consider it successful. Two major agreements were reached: 1) the agreement for developed nations to pay developing nations damages for climate change consequences; and, 2) the US and China resumed climate talks. I am going to discuss these results and what it means in the near future.

 

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