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STORY: The COP27 summit agreed to set up a ‘loss and damage’ fund

to support poorer countries being ravaged by climate impacts

specifically covering the cost of damage that countries cannot avoid or adapt to

A report by 55 vulnerable countries estimated their combined climate-linked losses

over the last two decades totaled $525 billion

Who will pay?

A few governments have made relatively small but symbolic funding commitments

Denmark, Belgium, Germany and Scotland, the EU

The EU has argued that China, which has not committed any payment, should also pay into it

China is the world's second-biggest economy, but classified by the UN as a developing country