The COP27 climate talks in Egypt, which had appeared close to collapse on Saturday morning, were poised for a last-minute deal after progress on a landmark agreement to pay poorer countries for harm caused by global warming.
The proposal would establish a new fund next year for the cost of climate disasters. In return Europe, pushed for tougher language on reducing emissions. After hours of wrangling with countries including China, Brazil and Saudi Arabia, changes were agreed to that part of the deal, putting a final text within reach.
Work was still going on late into Saturday night, however. As officials in a closed-door meeting debated the final draft to take to the closing public session for sign off, the U.S. made a late intervention that the deal should include a call to phase out all unabated fossil fuels, according to people familiar with the matter. If it survives, it would go significantly beyond the language agreed last in Glasgow, which called only for the phase down of coal.
