COP27: rich countries create climate fund for vulnerable countries

according to the information received The Wall Street Gazette🇧🇷 The governments of 190 countries signed an agreement to create an agreement. background climate related to poorer and more vulnerable countries🇧🇷 The decision was taken last Saturday (19), the Conference of the Parties in the final hours of the climate event (COP27), in Egypt.

Negotiators from different countries agreed on the measure that would allocate a good amount of money to help mitigate the effects of climate change causing sea level rise, storms, temperature changes, among other changes.

The amounts will be allocated to the most vulnerable countries in the world, and the fund wants wealthy countries in the Persian Gulf, among other wealthy regions, to contribute to the measure – and even countries like China have set up the fund to do so. not “take advantage of the situation” to make more money.

climate background

The idea was put into practice last Thursday, 17th when the European Union (EU) decided to announce that it was only willing to raise funds for more vulnerable developing countries. The EU also required richer countries to contribute to the fund.

In recent years, the demand for a fund to help the most vulnerable countries has grown tremendously, especially in smaller countries like Bangladesh. But until then, some countries, such as the United States and European countries, claimed that there was no need to raise funds, as there were many companies providing financing for the climate field.

Rich countries were also afraid to accept the creation of a fund for fear that the payments would risk legal action. Fortunately, this situation seems to be changing all over the world.