COP27: Fresh hope for climate talks after climate damage offer
A promise from the developed world to foot more of the climate bill has raised fresh hopes of breakthrough at the UN climate summit COP27.
Nations meeting in Sharm el-Sheikh, Egypt, worked late into Thursday night to find agreement over what has been the biggest sticking point.
The European Union has suggested a new fund to help poor nations deal with climate disaster.
Developing nations insist they will push for the best deal on the table.
The summit is nearing its end after two weeks of talks to make progress on tackling climate change, but there were fears it could collapse over the question of money. It was supposed to finish on Friday and is now expected to go on until at least Saturday.
Vulnerable nations including Pakistan, which leads developing countries here, say richer nations owe this money because they historically released most of the greenhouse gases that cause global warming.
The devastating floods in Pakistan this summer, which killed about 1,700 people, have been a powerful backdrop to talks in Egypt.
But rich nations are worried about signing a blank cheque. At the start of the summit, the US was adamant there would be no new fund, and it has been silent in negotiations, observers say.
https://www.bbc.co.uk/news/science-environment-63677463