First sketch of hoped-for COP27 deal kicks off crunch talks

A view of a logo of the COP27 climate summit in Sharm el-Sheikh, Egypt, November 11, 2022. REUTERS/Mohamed Abd El GhanySHARM EL-SHEIKH, Egypt, Nov 15 - Government ministers and negotiators from nearly 200 countries on Tuesday began the hard work of finding common ground for a deal at the, based on a sketched first outline in the hands of delegates at the summit in Egypt.

"It's all boiling down to the last days," EU environment policy chief Virginijus Sinkevicius told Reuters on the sidelines of the summit. It did not, however, give any hint of whether the final deal will include a new loss and damage fund - which developing countries are demanding in the negotiations, but which the European Union and United StatesThe failure by rich nations to deliver in full on a past pledge to deliver $100 billion in annual climate finance to developing countries has rankled in recent years of climate talks.

The burning of fossil fuels is the main cause of climate change, but coal, gas and oil were notably absent in the draft deal.all fossil fuels – rather than just coal, as countries agreed at last year's U.N. summit. The draft COP27 text did not hint at which route the final deal will take on this issue.

Tom Evans, a policy analyst at non-profit think tank E3G, said the draft text was a "wish list of items," but it did not reveal what is likely to make it into the final deal.

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