Countries reach historic ‘loss and damage’ agreement at COP27

The United Nations climate change conference, COP27, finished Sunday with a historic deal to create a global loss and damage fund. That new pool of money would be collected from richer nations that have historically contributed to climate change and distributed to countries that have already suffered irreversible climate damage. But, even though the agreement was considered a huge win, climate advocates still weren’t totally pleased since the final text also included a nod to natural gas. POLITICO Europe’s Karl Mathiesen breaks down his main takeaways from COP27, the details of this historic deal, and how climate advocates are reacting. Josh Siegel is an energy reporter for POLITICO. Karl Mathiesen is the senior climate correspondent for POLITICO Europe. Nirmal Mulaikal is a POLITICO audio host-producer. Raghu Manavalan is a senior editor for POLITICO audio. Jenny Ament is the executive producer of POLITICO’s audio department.