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Climate disaster aid scheme ‘Global Shield’ launched at COP27

Tuesday 15 Nov 22 10:30am

A G7-led plan dubbed “Global Shield” to provide funding to countries suffering climate disasters has been launched at the United Nations COP27 summit, although some questioned the effectiveness of the planned scheme.

Coordinated by Group of Seven president Germany and the Vulnerable Twenty (V20) group of climate-vulnerable countries, the plan launched on Monday aims to rapidly provide prearranged insurance and disaster protection funding after events such as floods, droughts and hurricanes hit.

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