COP27 Summit Strikes Historic Deal to Fund Climate Damages

Sameh Shoukry, president of the COP27 climate summit, right, speaks during a closing plenary session at the UN Climate Summit. Image Credit: AP
Sameh Shoukry, president of the COP27 climate summit, right, speaks during a closing plenary session at the UN Climate Summit. Image Credit: AP
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COP27 Summit Strikes Historic Deal to Fund Climate Damages

Sameh Shoukry, president of the COP27 climate summit, right, speaks during a closing plenary session at the UN Climate Summit. Image Credit: AP
Sameh Shoukry, president of the COP27 climate summit, right, speaks during a closing plenary session at the UN Climate Summit. Image Credit: AP

An often fraught UN climate summit wrapped up on Sunday with sweeping agreement on how to tackle global warming and a "historic" deal to create a special fund to cover the damages suffered by vulnerable nations.

The two-week talks, which at times appeared to teeter on the brink of collapse, delivered a major breakthrough on a fund for climate "loss and damage" but left some disappointed over a failure to push further ambition on cutting emissions.

Delegates applauded after the loss and damage fund was adopted as the sun came up Sunday following days of marathon negotiations over the proposal.

Collins Nzovu, Zambia's minister of green economy and environment, said he was "excited, very, very excited."

"This is a very positive result from 1.3 billion Africans," he told AFP.

"Very exciting because for us, success in Egypt was going to be based on what we get from loss and damage."

A final COP27 statement covering the broad array of the world's efforts to grapple with a warming planet held the line on the aspirational goal of limiting global warming to 1.5 degrees Celsius from pre-industrial levels.

It also included language on renewable energy for the first time, while reiterating previous calls to accelerate "efforts towards the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies".

But that failed to go much further than a similar decision from last year's meeting in Glasgow on key issues around, disappointing observers.

"New calls to accelerate deployment of renewable energy were very welcome," said Ani Dasgupta, head of the World Resources Institute.

"But it is mind-boggling that countries did not muster the courage to call for phasing down fossil fuels, which are the biggest driver of climate change."

As the final session stretched until sunrise after crunch talks went overnight, some delegates slept in their chairs, others struggled to keep their eyes open.

UN chief Antonio Guterres said the UN climate talks had "taken an important step towards justice" with the loss and damage fund.

"Clearly, this won't be enough, but it is a much needed political signal to rebuild broken trust. The voices of those on the frontline of the climate crisis must be heard," he said in a recorded message.

- 'Historic' deal -
A statement from the Alliance of Small Island States, comprised of islands whose very existence is threatened by sea level rise, said the loss and damage deal was a "historic" deal 30 years in the making.

"The agreements made at COP27 are a win for our entire world," said Molwyn Joseph, of Antigua and Barbuda and chair of AOSIS.

"We have shown those who have felt neglected that we hear you, we see you, and we are giving you the respect and care you deserve."

Conversely the deal on loss and damage -- which barely made it onto the negotiation agenda -- gathered critical momentum during the talks.

Developing nations relentlessly pushed for the fund during the summit, finally succeeding in getting the backing of wealthy polluters long fearful of open-ended liability.

With around 1.2C of warming so far, the world has seen a cascade of climate-driven extremes in recent months, shining a spotlight on the plight of developing countries faced with escalating disasters, as well as an energy and food price crisis and ballooning debt.

The World Bank estimated that devastating floods in Pakistan this year caused $30 billion in damage and economic loss.

Pakistan's Climate Minister Sherry Rehman said prior to the fund's approval that its creation would be "a historic reminder to vulnerable people all over the world that they have a voice and that if they unite... we can actually start breaking down barriers that we thought were impossible".

The fund will be geared towards developing nations "that are particularly vulnerable to the adverse effects of climate change" -- language that had been requested by the EU.

The EU had pushed for the wording with the aim of ensuring that wealthier developing countries such as China, which has grown into the world's second biggest economy, are not beneficiaries of the fund.

- 'On the brink' -
The Europeans had also wanted to broaden the funder base to cough up cash -- code for China and other better-off emerging countries.

The final loss and damage text left many of the thornier questions to be dealt with by a transitional committee, which will report to next year's climate meeting in Dubai to get the funding operational.

On Saturday morning, with the talks already in overtime, the European Union said it was prepared to have "no result" rather than a bad one over concerns around ambition on emissions cuts.

Scientists say limiting warming to 1.5C is a far safer guardrail against catastrophic climate impacts, with the world currently far off track and heading for around 2.5C under current commitments and plans.

"The historic outcome on loss and damage at COP27 shows international cooperation is possible," said Mary Robinson, former president of Ireland and Chair of The Elders.

"Equally, the renewed commitment on the 1.5C global warming limit was a source of relief. However, none of this changes the fact that the world remains on the brink of climate catastrophe."



France Accuses Iran of ‘Repression’ in Sentence for Nobel Laureate

People cross an intersection in downtown Tehran, Iran, Monday, Feb. 9, 2026. (AP)
People cross an intersection in downtown Tehran, Iran, Monday, Feb. 9, 2026. (AP)
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France Accuses Iran of ‘Repression’ in Sentence for Nobel Laureate

People cross an intersection in downtown Tehran, Iran, Monday, Feb. 9, 2026. (AP)
People cross an intersection in downtown Tehran, Iran, Monday, Feb. 9, 2026. (AP)

France accused Iran on Monday of "repression and intimidation" after a court handed Nobel Peace Prize laureate Narges Mohammadi a new six-year prison sentence on charges of harming national security.

Mohammadi, sentenced Saturday, was also handed a one-and-a-half-year prison sentence for "propaganda" against Iran's system, according to her foundation.

"With this sentence, the Iranian regime has, once again, chosen repression and intimidation," the French foreign ministry said in a statement, describing the 53-year-old as a "tireless defender" of human rights.

Paris is calling for the release of the activist, who was arrested before protests erupted nationwide in December after speaking out against the government at a funeral ceremony.

The movement peaked in January as authorities launched a crackdown that activists say has left thousands dead.

Over the past quarter-century, Mohammadi has been repeatedly tried and jailed for her vocal campaigning against Iran's use of capital punishment and the mandatory dress code for women.

Mohammadi has spent much of the past decade behind bars and has not seen her twin children, who live in Paris, since 2015.

Iranian authorities have arrested more than 50,000 people as part of their crackdown on protests, according to US-based Human Rights Activists News Agency (HRANA).


Iran's Supreme Leader Urges Iranians to Show 'Resolve' against Foreign Pressure

Iran's supreme leader Ali Khamenei on (File Photo/Supreme Leader's website).
Iran's supreme leader Ali Khamenei on (File Photo/Supreme Leader's website).
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Iran's Supreme Leader Urges Iranians to Show 'Resolve' against Foreign Pressure

Iran's supreme leader Ali Khamenei on (File Photo/Supreme Leader's website).
Iran's supreme leader Ali Khamenei on (File Photo/Supreme Leader's website).

Iran's supreme leader Ali Khamenei on Monday called on his compatriots to show "resolve" ahead of the anniversary of the 1979 Islamic revolution this week.

Since the revolution, "foreign powers have always sought to restore the previous situation", Ali Khamenei said, referring to the period when Iran was under the rule of shah Reza Pahlavi and dependent on the United States, AFP reported.

"National power is less about missiles and aircraft and more about the will and steadfastness of the people," the leader said, adding: "Show it again and frustrate the enemy."


UK PM's Communications Director Quits

British Prime Minister Keir Starmer delivers a speech at Horntye Park Sports Complex in St Leonards, Britain, February 05, 2026. Peter Nicholls/Pool via REUTERS
British Prime Minister Keir Starmer delivers a speech at Horntye Park Sports Complex in St Leonards, Britain, February 05, 2026. Peter Nicholls/Pool via REUTERS
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UK PM's Communications Director Quits

British Prime Minister Keir Starmer delivers a speech at Horntye Park Sports Complex in St Leonards, Britain, February 05, 2026. Peter Nicholls/Pool via REUTERS
British Prime Minister Keir Starmer delivers a speech at Horntye Park Sports Complex in St Leonards, Britain, February 05, 2026. Peter Nicholls/Pool via REUTERS

British Prime Minister Keir Starmer's director of communications Tim Allan resigned on Monday, a day after Starmer's top aide Morgan McSweeney quit over his role in backing Peter Mandelson over his known links to Jeffrey Epstein.

The loss of two senior aides ⁠in quick succession comes as Starmer tries to draw a line under the crisis in his government resulting from his appointment of Mandelson as ambassador to the ⁠US.

"I have decided to stand down to allow a new No10 team to be built. I wish the PM and his team every success," Allan said in a statement on Monday.

Allan served as an adviser to Tony Blair from ⁠1992 to 1998 and went on to found and lead one of the country’s foremost public affairs consultancies in 2001. In September 2025, he was appointed executive director of communications at Downing Street.