Poor countries walk out of climate conference over 'compensation' issue

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)