OPINION: It is fair to say that expectations for the recent COP27 climate summit in Egypt were not particularly high, with other issues taking up the headlines including war, an energy crisis and a looming global recession.

The post-COP27 consensus is that the event was a near-complete failure although a few salvageable outcomes deserve a mention.

One came in the form of an agreement, ratified in the final document, on so-called “loss and damage” payments.

This formally recognises that the richer nations that are historically responsible for the bulk of greenhouse gas emissions become accountable, to some extent, for the impact of climate change-related extreme effects on developing countries, and should help pay as a result.