COP27 climate talks hurtle towards overtime, countries mull EU offer of fund

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COP27 climate talks hurtle towards overtime, countries mull EU offer of fund
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With several other sticking points dogging this year’s UN climate talks, host country Egypt said a final deal was still not expected before the weekend. COP27

COP27 climate summit

The two-week conference at the Red Sea resort of Sharm el-Sheikh is a test of global resolve to combat planetary warming at a time that climate-driven storms, floods, droughts and wildfire compete for governments’ attention with a war in Europe and soaring inflation. “As the lowest-lying country in the world, we are heartened by the goodwill in this room,” Shauna Aminath said. “We’re very close to an agreement, and let’s engage with one another and make this happen.”The loss and damage issue has dominated this year’s summit, and talks had stuttered until Thursday as the United States and EU resisted a new fund over fears that it could open the door to spiraling liabilities to pay.

The draft text left a placeholder for ‘loss and damage’ – to be filled in if countries can thrash out a deal on that issue.

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