The world's poorest countries walked out of the Warsaw climate conference because rich countries refuse to discuss "compensation" for "extreme weather events" until after 2015. Guardian: Developing countries have demanded that a new UN institution be set up to oversee compensation but rich countries have been dismissive, blocking calls for a full debate in the climate talks. "The EU understands that the issue is incredibly important for developing countries. But they should be careful about ... creating a new institution. This is not [what] this process needs," said Connie Hedegaard, EU climate commissioner. She ruled out their most important demand, insisting: "We cannot have a system where we have automatic compensation when severe events happen around the world. That is not feasible." The G77 and China group, which is due to give a press conference on Wednesday to explain the walkout, has made progress on loss and damage, which it says is a "red line" issue. It ...(Read Full Post)