EU shakes up climate talks with surprise disaster fund offer

EU shakes up climate talks with surprise disaster fund offer

Frans Timmermans, executive vice president of the European Commission, speaks during a session on the Global Methane Pledge at the COP27 U.N. Climate Summit, Thursday, Nov. 17, 2022, in Sharm el-Sheikh, Egypt. (AP Photo/Nariman El-Mofty)

SHARM EL-SHEIKH, Egypt (AP) — Climate talks appeared stalled late night Thursday on major issues going into the final day, but possibilities for a deal were buoyed by an unexpected proposal by the European Union on two of the thorniest issues, tying compensation for climate disasters to tougher emissions cuts.

Minutes after the United Nations summit's chairman warned delegates that “we are not where we need to be in order to close this conference with tangible and robust outcomes," the EU's top climate official made a surprise offer. To applause, he proposed a two-pronged approach that would create a pot of money for poor countries and push for steeper cuts of heat-trapping emissions by all countries, as well as the phasing down of all fossil fuels, including natural gas and oil.