COP27 closes with historic deal on climate change

A historic new agreement that, for the first time, binds governments to provide assistance to the most vulnerable nations to help them cope with the loss and damage caused by growing climate impacts brought the COP27 Climate Summit to a close early on Sunday morning. However, the final agreement, known as the Sharm El Sheikh Implementation Plan, may have resulted in more advancement in reducing greenhouse gas emissions worldwide.

The discussion also promised:

  • An increase in climate finance flow
  • An increase in the pace of decarbonisation initiatives

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