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."



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.


Road Accident in Nigeria Kills at Least 30 People

FILE PHOTO: A police vehicle of Operation Fushin Kada (Anger of Crocodile) is parked on Yakowa Road, as schools across northern Nigeria reopen nearly two months after closing due to security concerns, following the mass abductions of school children, in Kaduna, Nigeria, January 12, 2026. REUTERS/Nuhu Gwamna/File Photo
FILE PHOTO: A police vehicle of Operation Fushin Kada (Anger of Crocodile) is parked on Yakowa Road, as schools across northern Nigeria reopen nearly two months after closing due to security concerns, following the mass abductions of school children, in Kaduna, Nigeria, January 12, 2026. REUTERS/Nuhu Gwamna/File Photo
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Road Accident in Nigeria Kills at Least 30 People

FILE PHOTO: A police vehicle of Operation Fushin Kada (Anger of Crocodile) is parked on Yakowa Road, as schools across northern Nigeria reopen nearly two months after closing due to security concerns, following the mass abductions of school children, in Kaduna, Nigeria, January 12, 2026. REUTERS/Nuhu Gwamna/File Photo
FILE PHOTO: A police vehicle of Operation Fushin Kada (Anger of Crocodile) is parked on Yakowa Road, as schools across northern Nigeria reopen nearly two months after closing due to security concerns, following the mass abductions of school children, in Kaduna, Nigeria, January 12, 2026. REUTERS/Nuhu Gwamna/File Photo

At least 30 people have been killed and an unspecified number of people injured in a road accident in northwest Nigeria, authorities said.

The accident occurred Sunday in Kwanar Barde in the Gezawa area of Kano state and was caused by “reckless driving” by the driver of a truck-trailer, Gov. Abba Yusuf said in a statement. He did not specify what other vehicles were involved.

Yusuf described the accident as “heartbreaking and a great loss” to the affected families and the state. He did not provide more details of the accident, said The Associated Press.

Africa’s most populous country recorded 5,421 deaths in 9,570 road accidents in 2024, according to data by the country’s Federal Road Safety Corps.

Experts say a combination of factors including a network of bad roads, lax enforcement of traffic laws and indiscipline by some drivers produce the grim statistics.

In December, boxing heavyweight champion Anthony Joshua was in a deadly car crash that injured him and killed Sina Ghami and Latif “Latz” Ayodele, two of his friends, in southwest Nigeria.

Adeniyi Mobolaji Kayode, Joshua’s driver, was charged with dangerous and reckless driving and his trial is scheduled to begin later this month.

Africa has the highest road fatality rate in the world despite having only about 3% of the world’s vehicles, mainly due to weak enforcement of road laws, poor infrastructure and widespread use of unsafe transport. 


US Vice President Vance Heads to Armenia, Azerbaijan to Push Peace, Trade

US Vice President JD Vance speaks during the Critical Minerals Ministerial at the State Department in Washington, DC, US, February 4, 2026. (Reuters)
US Vice President JD Vance speaks during the Critical Minerals Ministerial at the State Department in Washington, DC, US, February 4, 2026. (Reuters)
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US Vice President Vance Heads to Armenia, Azerbaijan to Push Peace, Trade

US Vice President JD Vance speaks during the Critical Minerals Ministerial at the State Department in Washington, DC, US, February 4, 2026. (Reuters)
US Vice President JD Vance speaks during the Critical Minerals Ministerial at the State Department in Washington, DC, US, February 4, 2026. (Reuters)

US Vice President JD Vance will visit Armenia and Azerbaijan this week to push a Washington-brokered peace agreement that could transform energy and trade routes in the strategic South Caucasus region.

His two-day trip to Armenia, which begins later on Monday, comes just six months after the Armenian and Azerbaijani leaders signed an agreement at the White House seen as the first step towards peace after nearly 40 years of war.

Vance, the first US vice president to visit Armenia, is seeking to advance the Trump Route for International Peace and Prosperity (TRIPP), a proposed 43-kilometre (27-mile) corridor that would run across southern Armenia and give Azerbaijan a direct route to its exclave ‌of Nakhchivan ‌and in turn to Türkiye, Baku's close ally.

"Vance's visit should ‌serve ⁠to reaffirm the ‌US's commitment to seeing the Trump Route through," said Joshua Kucera, a senior South Caucasus analyst at Crisis Group.

"In a region like the Caucasus, even a small amount of attention from the US can make a significant impact."

The Armenian government said on Monday that Vance would hold talks with Prime Minister Nikol Pashinyan and that both men would then make statements, without elaborating.

Vance will then visit Azerbaijan on Wednesday and Thursday, the White House has said.

Under the agreement signed last year, ⁠a private US firm, the TRIPP Development Company, has been granted exclusive rights to develop the proposed corridor, with Yerevan ‌retaining full sovereignty over its borders, customs, taxation and security.

The ‍route would better connect Asia to Europe ‍while - crucially for Washington - bypassing Russia and Iran at a time when Western countries are ‍keen on diversifying energy and trade routes away from Russia due to its war in Ukraine.

Russia has traditionally viewed the South Caucasus as part of its sphere of influence but has seen its clout there diminish as it is distracted by the war in Ukraine.

Securing US access to supplies of critical minerals is also likely to be a key focus of Vance's visit.

TRIPP could prove a key transit corridor for the vast mineral wealth of ⁠Central Asia - including uranium, copper, gold and rare earths - to Western markets.

CLOSED BORDERS, BITTER RIVALS

In Soviet times the South Caucasus was criss-crossed by railways and oil pipelines until a series of wars beginning in the 1980s disrupted energy routes and shuttered the border between Armenia and Türkiye, Azerbaijan's key regional ally.

Armenia and Azerbaijan were locked in bitter conflict for nearly four decades, primarily over the mountainous region of Nagorno-Karabakh, an internationally recognized part of Azerbaijan that broke away from Baku's control as the Soviet Union fell apart in 1991.

Azerbaijan and Armenia fought two wars over Karabakh before Baku finally took it back in 2023. Karabakh's entire ethnic Armenian population of around 100,000 people fled to Armenia. The two neighbors have made progress in recent months on normalizing relations, including restarting ‌some energy shipments.

But major hurdles remain to full and lasting peace, including a demand by Azerbaijan that Armenia change its constitution to remove what Baku says contains implicit claims on Azerbaijani territory.