We’re using the word historic, but what will this fund actually do and how will it work?
Well, we are still trying to get more details on what exactly has been agreed here.
We know it is a decision to set up a fund that should start delivering money next year – money which should go to developing nations and come from developed nations.
Poor nations have called for this for so long because they suffer the worst of climate impacts, but historically caused little to none of the greenhouse gas emissions that warm Earth’s atmosphere.
Take the UK – it has emitted these gases for around 150-200 years since the industrial revolution, burning coal, then oil and gas to fuel economic growth.
But, while climate change will affect the UK, it will not hit as badly as low-lying nations which could be almost wiped out by sea level rise.
Yet those nations barely contribute to emissions. It’s that imbalance that this commitment is trying to address.