COP27: Austria commits $50 mln for climate 'loss and damage'

, shorthand for cash rich polluters would pay to poorer states facing unavoidable damage from worsening floods, drought and sea level rise.

The funds could support the "Santiago Network", a U.N. scheme providing technical support to countries faced with damages from climate-fueled natural disasters, and a programme providing early warning systems to countries prone to extreme weather. Cyclone Idai caused some $1.4 billion in total damage and $1.39 billion in losses when it struck Mozambique in 2019, and some research suggests that by 2030, vulnerable countries' climate-linked losses could reach $580 billion per year.

Euros and dollars are not interchangeable. Is it 50 million euros or 50 million dollars?

Suckers.

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