UN Climate Summit Agrees On Landmark Deal

A fraught UN climate summit wrapped up Sunday with a landmark deal on funding to help vulnerable countries cope with devastating impacts of global warming — but also anger over a failure to push further ambition on cutting emissions.

The two-week talks in Egypt’s Red Sea resort of Sharm el-Sheikh, which at times appeared to teeter on the brink of collapse, delivered a major breakthrough on a fund for climate “loss and damage”.

Pakistani climate minister Sherry Rehman said COP27 “responded to the voices of the vulnerable, the damaged and the lost of the whole world”.

Tired delegates applauded when the loss and damage fund was adopted as the sun came up Sunday following almost two extra days of negotiations that went round-the-clock.

But jubilation over that achievement was countered by stern warnings.

A final COP27 statement covering the broad array of the world’s efforts to grapple with a warming planet held the line on the aspirational goal of limiting global warming to 1.5 degrees Celsius from pre-industrial levels.

It also included language on renewable energy for the first time, while reiterating previous calls to accelerate “efforts towards the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies”.

Criticised by some delegations for a lack of transparency during negotiations, Egyptian Foreign Minister Sameh Shoukry, the COP27 chair, said any missteps were “certainly not intentional”.