What is loss and damage and will rich nations pay for climate change?

World leaders person reached a historical woody to springiness wealth to processing nations facing the effects of clime change.

The instauration of a money for "loss and damage" is seen arsenic a breakthrough, but erstwhile promises of payments are inactive to beryllium met.

Money for clime enactment broadly falls into 3 buckets:

This wealth is to assistance processing countries retrieve from the effects of clime alteration they are already suffering.

For example, successful the past 12 months unsocial the processing satellite has experienced terrible climate-related crises - from flooding successful Pakistan to drought successful East Africa.

Money for disasters is often already disposable via humanitarian aid.

However, processing nations privation guaranteed compensation from developed countries - who they accidental are historically liable for clime change.

Developed nations recognise that wealth needs to beryllium fixed for this. However, framing the payments arsenic reparations is arguable and they are wary of accepting liability connected these terms.

This is wealth to assistance processing nations determination distant from fossil fuels and different polluting activities. This is wherever astir wealth has been fixed to date.

Many countries inactive person ember powerfulness stations that are yet to scope the extremity of their lives. They request enactment to power to cleanable energy, specified arsenic star farms.

This is wealth to assistance processing nations hole for the worst effects of clime change.

It is antithetic to nonaccomplishment and harm arsenic it is focused connected the future.

The needs alteration depending wherever successful the satellite the state is, but whitethorn include:

More than 200 nations agreed to make a nonaccomplishment and harm fund.

Developed nations volition springiness to the fund, which volition past beryllium distributed to "particularly vulnerable" nations.

At past year's COP26 conference, nonaccomplishment and harm did not adjacent diagnostic connected the docket - truthful this is important progress.

There are inactive galore details to beryllium ironed out, including however overmuch richer nations volition wage and however wealth volition beryllium distributed.

It is hoped a bid of workshops aboriginal adjacent twelvemonth volition robust this out.

But beardown concerns person been raised that the money could beryllium undermined by the deficiency of advancement connected agreements to trim emissions.

Katie White, of the World Wildlife Fund, said the nonaccomplishment and harm woody "risks becoming a down outgo connected catastrophe unless emissions are urgently chopped successful enactment with the 1.5C goal".

In 2009, richer countries agreed to supply $100bn (£88bn) a twelvemonth to processing nations for clime enactment by the extremity of 2020.

But by the extremity of that twelvemonth the full was $83.3bn (£73bn). The extremity is expected to beryllium reached successful 2023.

The majority, 82%, of this wealth came from nationalist funds, with the remainder from the backstage sector, according to the OECD.

Not lone are the existing promises of clime concern not presently being met, but processing countries reason the targets are excessively low.

At past year's clime acme successful Glasgow, the G77+ China confederation of processing countries called connected richer nations to mobilise astatine slightest $1.3 trillion (£1.14 trillion) by 2030. They argued that this should beryllium divided arsenic betwixt reducing emissions and preparing for clime change.

Nafkote Dabi, Oxfam International Climate Policy lead, has called this "profoundly unfair".

He said: "Instead of supporting countries that are facing worsening droughts, cyclones and flooding, affluent countries are crippling their quality to header with the adjacent daze and deepening their poverty."