Climate Politics
EU Tries to Break COP27 Deadlock With Offer on Loss and Damage Fund
- Egypt’s first draft decision lacks fossil fuel phase down
- EU’s Timmermans calls for stronger mitigation language
Frans Timmermans delivers a speech at the COP27 climate conference in Sharm el-Sheikh, Egypt, on Nov. 15.
Photographer: Ahmad Gharabli/AFP/Getty ImagesThis article is for subscribers only.
Climate talks in Sharm el-Sheikh edged forward after the European Union offered a plan to break deadlocked climate negotiations in Egypt, proposing a loss and damage finance facility for the most vulnerable countries in exchange for a pledge to phase down oil, gas and coal.
The proposal, set out by EU climate chief Frans Timmermans late Thursday evening, came after days of sluggish talks in Sharm El-Sheikh, bogged down by fights over how to compensate developing countries bearing the brunt of climate change through flooding, droughts and other disasters.