EU to back climate compensation talks at U.N. summit

The European Union will support discussion of financial compensation for vulnerable nations bearing the brunt of climate change at next month’s U.N.
climate summit, a draft document showed, a potential breakthrough for countries pushing for such talks.
The EU and United States, the world’s third and second-biggest polluters respectively, have historically resisted steps that could assign legal liability or lead to compensation for climate impacts including droughts and floods that are disproportionately hurting poor nations.
But a draft seen by Reuters of the EU’s negotiating position for the summit in Egypt showed the 27-nation bloc would support holding discussions on the topic at the Nov. 7 meeting expected to be attended by nearly 200 countries.
It remained vague, however, on what these talks would deliver, and whether the COP27 summit should launch the climate compensation fund that dozens of developing countries have called for.