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The big takeaway from the international climate talks at Sharm el-Sheikh, Egypt COP27 was the agreement to set up a ‘loss and damage’ fund to help rebuild communities devastated by floods and climate change. This demand, which emerged last year at the climate summit in Glasgow, has been driven by poor nations, especially those with island and coastal communities threatened by floods and submergence This is a big step forward as the US and the European Union have long resisted any compensation that will be seen as ‘reparation’ for their unchecked development.