Sunday, February 5 2023

Associated Press

Insurance fund for climate impacts announced at UN talks

SHARM EL-SHEIKH, Egypt (AP) — The Group of Seven leading economies launched a new insurance system Monday to provide swift financial aid when nations are hit by devastating effects of climate change. The so-called Global Shield is backed by the V20, an alliance of climate vulnerable nations chaired by Ghana, and the G-7 chaired by Germany. Under the newly launched shield, countries will receive more than $200 million dollars in funding, mostly from Germany.

Source: Yahoo Sports

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