Climate negotiators on Friday were mulling a European Union proposal aimed at resolving an impasse over financing for countries hit by climate-fueled disasters and pushing the U.N. climate summit in Egypt closer to a final deal.
The EU proposal agreed to set up a special fund for covering loss and damage in the most vulnerable countries — but funded from a "broad donor base."
That suggests high-emitting emerging economies like China would have to contribute, rather than having the fund financed only by rich nations that have historically contributed the most to global warming.
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