Cop27 reaches landmark deal on climate damage fund, but little else

REUTERS - MOHAMED ABD EL GHANY

Countries adopted a hard-fought final agreement at the Cop27 climate summit early on Sunday that will set up a fund to help poor countries battered by climate disasters, but does not boost efforts to tackle the emissions causing them. France said it regretted the agreement's "lack of ambition".

After tense negotiations that ran through the night in the Egyptian resort of Sharm el-Sheikh, the Egyptian Cop27 presidency released the final text for a deal in the early hours of Sunday morning.

Delegates agreed on establishing an historic "loss and damage" fund whereby wealthier countries who are responsible for most of the carbon emissions that lead to climate change will compensate the developing countries hardest hit by the effects of global warming.

Pakistani climate minister Sherry Rehman, whose country was struck by devastating monsoon floods earlier this year, said Cop27 "responded to the voices of the vulnerable, the damaged and the lost of the whole world".

"We have struggled for 30 years on this path, and today in Sharm el-Sheikh this journey has achieved its first positive milestone," she told the summit.

But jubilation was countered by stern warnings.

UN chief Antonio Guterres said the UN climate talks had "taken an important step towards justice" with the loss and damage fund, but fell short in pushing for the urgent carbon-cutting needed to tackle global warming.


Read more on RFI English

Read also:
Cop27: crunch climate talks teeter on the edge
Young protesters at Cop27 demand climate damage fund
Cop27 extended as EU climate damage proposal piles pressure on China