EU on surprise climate disaster fund offer at COP27

European Union Climate Chief Frans Timmermans said on Friday that a proposal made by the bloc on funding for loss and damage and mitigation is "a final offer."

He said the plan seeks to "find a compromise" between nations as negotiators try to find a way forward at the UN climate talks in Egypt. He said a fund for loss and damage for countries vulnerable to climate change needs to be part of a "package deal with serious, serious plans on mitigation." Timmermans said he was encouraged by immediate reaction to the proposal, with many nations responding positively to the offer.