Cop27 live: nations push for crucial climate deal as clock ticks down
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.
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…