Compensation for poor nations? : COP27 tables the proposal

For the first time, the poor global fraternity has been alive on an international platform. Thanks to the COP27 which has tabled the proposal of compensation for poor nations over climate disasters.

The climate negotiations refer to the issue of loss and damage was seen in the climate conference’s formal main agenda for the first time ever which has followed as discussion in a separate track in years.

The opening day of the climate change conference here witnessed a beginning with a big positive note where the creation of an international mechanism was negotiated among members present who agreed to discuss it for compensating poor countries suffering large scale damage out of the climate disasters.

Representing Indian side Environment Minister Bhupendra Yadav put forward the notion of the country calling it an important movement in the right direction. Yadav said that it must be ensured now that the move is taken forward coupled with complete transparency, keeping in view the requirements of the poorer along with most vulnerable countries. He also clarified that India is in full support of the move.

In the wake of various unprecedented climate disasters this year compelled for the decision to be included with loss and damage in the main agenda of the meet. Europe has witnessed the worst drought in last five centuries with Pakistan’s worst ever flooding or the extensive heat waves in various parts of the world, can be seen as the gravity of the issue. A growing number of countries are demanding to discuss loss and damage in a more serious note expecting it to be addressed with greater urgency than earlier.