"SHARM EL-SHEIKH, Egypt — The world’s most climate-threatened countries won an historic first at climate talks here Sunday — securing a fund that would pay them for the damage wrought by global warming.

But the victory came at a price.

Reaching consensus on the new form of climate aid — or payments for “loss and damage” in U.N. circles — meant bargaining with a small group of petrostates and emerging economies who sought to block the conference from doing much to mitigate global warming.

Those efforts, according to two European officials and an official from the United Kingdom, were led by Saudi Arabia, Iran, China, Russia and Brazil — although none of those delegations could be contacted for comment immediately after the conference."

Sara Schonhardt and Karl Mathiesen report for E&E News November 21, 2022. [2]

SEE ALSO:

"Inside the Saudi Strategy to Keep the World Hooked on Oil" (New York Times) [3]