More than 190 countries agreed to set up a fund that would pay for climate-related damage in vulnerable nations, removing a major hurdle in U.N. climate talks
SHARM EL SHEIKH, Egypt—A deal was struck at United Nations climate talks on Saturday to set up a fund that would pay forin countries deemed particularly vulnerable, officials said, handing a victory to poorer nations that have pushed for the move for years and removing a major sticking point in broader negotiations to address global warming.
The fund would earmark money for what is known as loss and damage: When rising seas, more powerful storms and other effects that scientists link to climate change cause destruction that is sudden or potentially irreparable.
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