Approach:

• Introduce the topic with agreement concluded in COP 27
• Body part should focus on the challenges to attain the success of agreement
• Conclude with general need to save climate.

Answer:

More than 200 nations agreed to create a loss and damage fund to which, developed nations will provide the fund, which will then be distributed to "particularly vulnerable" nations. It is to help poor countries cope with climate disasters made worse by the greenhouse gases from wealthy nations.

Potential Challenges:

• The agreement hammered out says that nations cannot be held legally liable for payments.
• The United States and the European Union pushed that China will eventually contribute to any fund created and would not be eligible to receive money from it. China is currently classified as a developing country and now the world’s biggest emitter of greenhouse gases.
• US, the European Union and other wealthy emitters made a pledge to mobilize $100 billion per year in climate finance to help poorer countries shift to clean energy and adapt to future climate risks through measures like building sea walls. They are still falling short by tens of billions of dollars annually.
• While the agreement dealt with the damages from global warming, it did far less to address the root cause of the crisis.

The planet has already warmed by an average of 1.1 degrees Celsius, and scientists have said that countries need to cut their carbon emissions more quickly and more significantly to keep warming to 1.5 degrees Celsius. Every fraction of a degree of additional warming could mean tens of millions more people worldwide exposed to life-threatening heat waves, water shortages and coastal flooding.