Home » Cop27 Live: Clashes Over Key Issues As Talks Head Into The Night

Cop27 Live: Clashes Over Key Issues As Talks Head Into The Night

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Nope. Another hour has been added on to the YouTube ticker. As a colleague said earlier, it’s the hope that kills you.

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Meanwhile, it looks as if a brief flurry of concern over the loss and damage fund may have calmed down now. Some campaigners were flagging that, at the last minute (although, as we know, there may be many more minutes to come), it looked as if the text was being picked apart, with developing countries walking back on the agreements they had made earlier.

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But both Fiona Harvey and Nina Lakhani have been digging in to find out what’s happening and it looks as if the snarl was around procedural issues. The fund is still alive and kicking.

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UN climate summits work by consensus, which means any nation can block an agreement. In the closing plenary at Cop26 in Glasgow last year, India almost brought the Cop president Alok Sharma to tears by demanding that “phase out coal” was watered down to “phase down”.

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A potential flashpoint for the closing plenary at Cop27 is the establishment of a loss and damage fund, which would provide money for poorer nations to rebuild after climate disasters. The US has long opposed this, fearing that – as the world’s biggest polluter over time – it could face huge liabilities.

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But it looks unlikely that the US will block the loss and damage fund that is in the current draft text. A person close to the negotiations has just told my colleague Fiona Harvey: “The US is working to sign on [on loss and damage].”

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The New York Times is also reporting that the US is willing to accept the creation of a loss and damage fund, while a source told Reuters the US is working to find a way it can agree to the proposal.

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