COP27: Climate costs deal struck but no fossil fuel progress

TL;DR

On Sunday, Pakistan's climate minister Sherry Rehman, who negotiated for the bloc of developing countries plus China, told journalists she was very happy with the agreement.The devastating floods in at-risk nation Pakistan this summer, which killed about 1,700 people with estimated damages of $40 billion, have been a powerful backdrop at this summit.But nations and groups including UK, EU, and New Zealand left Egypt unhappy with compromises on fossil fuels and curbing climate change.For almost as long as the UN has discussed climate change, developed nations worried about signing a blank cheque for climate impacts.It tops off a conference marked with deadlock, and punctuated by dramatic moments - including Brazil's President-elect Luiz InĂ¡cio Lula da Silva's first appearance on the global stage since his recent election win."

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