On 1st day, UN climate conference sets up fund for countries hit by disasters like flood and drought

The world just took a big step toward compensating countries hit by deadly floods, heat and droughts. Nearly all the world’s nations on Thursday finalized the creation of a fund to help compensate countries struggling to cope with loss and damage caused by climate change, seen as a major first-day breakthrough at this year’s U.N. climate conference. Sultan al-Jaber, the president of the COP28 climate conference in Dubai, hailed "the first decision to be adopted on day one of any COP” — and his country, the United Arab Emirates — would chip in $100 million to the fund.