A bloc of 42 island nations said the European Union is backtracking on agreements made at the last round of United Nations climate talks in Durban, South Africa, threatening the environmental integrity of an eventual treaty.
Islands that are most vulnerable to rising oceans are seeking an insurance program to protect against damage related to climate change, adding to pressure on industrial nations to increase aid committed to fight global warming to more than $100 billion a year.
The world’s richest and poorest countries are divided over whether to create a new fund to help vulnerable nations such as Bangladesh, Kenya and the Philippines cope with loss and damage caused by climate changes.
The Maldives, Kiribati and Tuvalu risk extinction from rising seas because nations aren’t stepping up commitments to cut greenhouse gases, a bloc of 43 island countries said as United Nations climate talks began in Mexico.
Annual economic losses from natural disasters have almost quadrupled in the past three decades, the World Bank said in a report that recommends investments ranging from early-warning systems to safer roads and buildings.