After hours and hours of intense negotiations we finally have some outcomes from this years COP27.

The dust is still settling, but here is what we know so far.

• Delegates who've been working through the night at the UN climate summit in Egypt have approved a major deal on helping poorer countries
• They have agreed to set up a fund to pay for some of the loss and damage being inflicted by global warming
• Many of the most controversial decisions on the fund have been kicked into next year when a "transitional committee" is expected to make recommendations for countries to then adopt at the COP28 next November
• Those recommendations would cover "identifying and expanding sources of funding" - referring to the problematic question of which countries should pay into the new fund
• The overarching agreement from the summit - called the "cover text" - does not raise ambition on reducing greenhouse gas emissions from what was agreed at the COP26 summit in Glasgow last year
• The cover text also mentions emissions reductions through "low-emission" energy alongside renewable energy, raising concerns this will allow for more continued use of gas, which often has lower emissions than coal and oil, but still releases carbon dioxide when burned

Georgina Rannard
Reporting from COP27

Image source, Reuters

We have a bit more detail on the loss and damage deal now.

Pakistan's Climate Minister Sherry Rehmen, leader of the powerful group of developing nations and China called G77, has been a key negotiator here in Sharm el-Sheikh.

We just spoke to her outside the plenary hall (where sunlight is now streaming in - surprising many delegates and journalists). She says the deal "restores the credibility of the COP process" referring to these summits and that nations have agreed on the technical part (the mechanism) in the UN for establishing a fund.

A committee will meet in the next couple of months to decide on details of who should pay the money and how.

"I'm happy that it worked out and happy that it didn't get blocked in the night. We were tense for two nights," she says.

Experts here are agreed that the symbolism of the loss and damage deal is huge, because it shows that nations' mindsets have altered. Loss and damage has been a hugely contentious issue for years and decades, so to actually get a deal is a big shift.

The coming months will see an assessment of which countries pay the money and which will receive it. It is almost certain that rich nations like the UK, US, New Zealand, Canada, and the EU will pay into the fund. And the most vulnerable countries, including low-lying island states, are likely to receive money.

But there is a big question mark over whether China will pay - the country has huge economic growth and it is the world's biggest emitter. However it has contributed little historically to climate change and so it tends to argue it should not pay for it.

There were signs earlier in the summit that this could be changing after a proposal by the EU to draw countries like China and India into the funding pool. However this did not happen and the fund remains voluntary. China and India's role within the fund will need to be worked out over the coming months.

Questions will also be raised over where the money comes from. Some have suggested that taxes on fossil fuel companies are one way - or that the private sector should play a large role.

Esme Stallard
Climate reporter

Environmental charities and campaign groups are starting to react to the climate agreement.

On the whole they seem to be welcoming the deal on loss and damage. Greenpeace have called it "an important foundation in building towards climate justice".

But there have been strong concerns raised that the promised fund could be undermined by the lack of progress on getting agreement to reduce emissions.

Katie White, executive director of advocacy, at the World Wildlife Fund (WWF) said the loss and damage deal "risks becoming a downpayment on disaster unless emissions are urgently cut in line with the 1.5°C goal".

There was talk at one point that there could be a new pledge to "phase down" oil and gas - adding to the commitment last year to phase down coal.

Failure to get this included WWF said will: "put our health and security at risk."

Greenpeace went further - accusing the Egyptians of being influenced by the fossil fuel industry.

Yeb Saño, executive director at Greenpeace Southeast Asia said: "a large number of countries from north and south voiced their strong support for phasing out all fossil fuels...but they were ignored by the Egyptian COP Presidency. Petro-states and a small army of fossil fuel lobbyists were out in force in Sharm el-Sheikh to make sure that it did not happen."

Georgina Rannard
Reporting from COP27

Image source, EPA

The UK's negotiator Alok Sharma, who of course presided over COP26 in Glasgow last year, has given his reaction to journalists here in Sharm el-Sheikh.

"I'm incredibly disappointed that we weren't able to go further," he told us.

He came here wanting to raise global ambition on urgently cutting the use of fossil fuels to limit global warming. That has not happened.

"We had to fight incredibly hard, relentlessly, it was like a battle, to make sure that we preserved what we got over the line in Glasgow," he said.

There was strong push back from some countries, Sharma said. He said he'd told those countries they need to look climate vulnerable countries "in the eye".

But he said developed nations wanted to keep the commitment to a loss and damage deal, which he calls historic.

The commitment to limiting global warming to 1.5C by 2100 remains in the agreement, but has slipped down the priority list in the cover text - the overarching agreement from the summit.

Sharma says: "I said in Glasgow that the pulse of 1.5C was weak. Unfortunately, it remains on life support."

Chaotic summit led to real progress on loss and damagepublished at 07:47 Greenwich Mean Time 20 November 2022

07:47 GMT 20 November 2022

Justin Rowlatt
BBC Climate editor reporting from COP27

Image source, Reuters

Veterans say this has been one of the most chaotic of COP summits so far.

The cover text is disappointing, it does not raise ambition on reducing emissions from what was agreed at the summit in Glasgow last year.

But, let’s look on the bright side for a moment.

The creation of a fund for loss and damage represents real progress. The issue wasn’t even on the agenda until just three weeks before the conference opened.

At that time developied nations were still insisting there would be no dedicated loss and damage fund.

They held firm on that position until late in the second week of these talks. Then the ground began to shift.

Long hard negotiations followed which ended with the Egyptian president of these talks, Sameh Shoukry, bringing down his gavel to mark agreement on the deal here in Sharm el-Sheikh.

That is a real achievement by the Egyptian hosts. What makes the deal even sweeter is that it was delivered it on African soil.

“We’ve waited 30 years for this,” the lead negotiator on the issue for Africa, Alpha Kaloga, told me last night.

Earlier we had some reaction from UN Secretary General António Guterres.

He has now released a full and more detailed statement emphasising our planet is "still in the emergency room".

He adds: "We need to drastically reduce emissions now - and this is an issue this COP did not address.

"A fund for loss and damage is essential - but it’s not an answer if the climate crisis washes a small island state off the map - or turns an entire African country to desert.

"The world still needs a giant leap on climate ambition. The red line we must not cross is the line that takes our planet over the 1.5C temperature limit."

Georgina Rannard
Reporting from COP27

We've now spoken to James Shaw, New Zealand's climate change minister, outside the plenary hall.

He says he is delighted that the deal on loss and damage was achieved.

But, asked about weakening of agreements on fossil fuels, he admits "it's not great."

"I'm pretty disappointed we haven't moved much further than what we got in Glasgow," he says.

He argues that developed countries "held the line on 1.5C" in the face of "strong attempts by the petrol states to roll back".

Shaw is likely referring to countries like Russia and Saudi Arabia who reportedly attempted to weaken language on urgently reducing curbing climate change.

President Sameh Shoukry announced a historic "loss and damage" deal to help poor countries.

A tired applause followed - it was 04:15 (GMT 02:15) after all.

The landmark deal, which many countries have been demanding for years, establishes a fund to help nations that are worst-hit by climate change.

Read more about "loss and damages" here.

Georgina Rannard
Reporting from COP27

Image source, Reuters

Let's get some reaction now.

At the start of this summit, I reported on some very powerful speeches from leaders of nations most vulnerable to climate change.

Time to pay the climate bill, they demanded.

"We will not give up... the alternative consigns us to a watery grave," Bahamas Prime Minister Philip Davis said in a powerful opening speech.

Now, two weeks later, one of the groups leading this charge - the Alliance of Small Island States (Aosis) - is calling the "loss and damage" fund "a mission 30 years in the making".

Georgina Rannard
Reporting from COP27

Image source, United Nations

We're using the word historic, but what will this fund actually do and how will it work?

Well, we are still trying to get more details on what exactly has been agreed here.

We know it is a decision to set up a fund that should start delivering money next year - money which should go to developing nations and come from developed nations.

Poor nations have called for this for so long because they suffer the worst of climate impacts, but historically caused little to none of the greenhouse gas emissions that warm Earth's atmosphere.

Take the UK - it has emitted these gases for around 150-200 years since the industrial revolution, burning coal, then oil and gas to fuel economic growth.

But, while climate change will affect the UK, it will not hit as badly as low-lying nations which could be almost wiped out by sea level rise.

Yet those nations barely contribute to emissions. It's that imbalance that this commitment is trying to address.

Image source, Reuters

The European Union's climate policy chief has just criticised the commitment of some countries towards efforts to limit rising temperatures.

Frans Timmermans says there is a "yawning gap" between climate policies and climate science adding that the mitigation programme agreement allows for some parties to "hide from their commitments".

"This is the make or break decade," he says. "But what we have in front of us is not enough of a step forward for people and planet.

Before finishing his speech to applause from delegates, Timmermans urged countries to acknowledge the deal reached in Egypt had fallen short.

He adds: "Too many parties are not ready to make progress in the fight against the climate crisis.

"Some are afraid of the transition ahead and the cost of change."

Georgina Rannard
Reporting from COP27

Image source, Reuters

As the dust settles, it's becoming a little bit clearer what has been agreed to here.

Developing nations are pleased their vulnerability to climate impacts has been recognised by the fund for climate loss and damage, but many rich nations will be disappointed about fossil fuels.

As my colleague Justin Rowlatt said a little earlier, new language was in the final political statement that included "low emissions" energy alongside renewable power as the energy sources of the future.

That could be used to justify new fossil fuel development - which is exactly what global climate scientists in the UN's Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency advise against.

It could refer to gas, which is often cleaner than oil and coal, but not a renewable fuel like wind or solar.

The summit also seems to have moved the commitment to try to limit the average rise in global temperatures to 1.5C by 2100 - that's the crucial temperature threshold scientists say we cannot go above if we are to avoid the worst of climate change.

Leaders warned about this from the beginning, and it will be deeply disappointing for rich nations if there is now less global ambition to urgently cut fossil fuel use.

As you'll appreciate, we're reporters and not lawyers - the UN is full of legal, technical language - so we're still poring over everything and talking to experts and analysts for their views. We'll bring you more when we get it.

Image source, Reuters

In the last few moments the UN secretary general António Guterres has given his verdict on the summit, calling it an "important step towards justice".

He welcomes the decision to establish a loss and damage fund for countries worst-hit by climate change - but with a key caution: "Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust.

"The voices of those on the frontlines of the climate crisis must be heard. The UN system will support this effort every step of the way."

This could have been a triumph - but may be judged a failurepublished at 04:35 Greenwich Mean Time 20 November 2022

04:35 GMT 20 November 2022

Justin Rowlatt
Climate editor, reporting from COP27

The Egyptians hosts of this UN climate conference have achieved something extraordinary.

They have addressed an issue that has been a running sore since these talks first began 30 years ago - the question how vulnerable countries will be helped with the loss and damage climate change is already wreaking in their communities.

But at the same time they have not raised ambition on tackling the root cause of climate change – the greenhouse gas emissions that are warming our planet.

Indeed, by introducing a new category of “low-emission” energy many believe they have dialled back on what was agreed at the last UN climate conference in Glasgow.

It means what could have been a triumph for Egypt is likely to end up being judged a failure.

It's just gone 6am in Egypt, and as you can see, delegates at the summit are completely exhausted.

Some have barely slept in two days.

Image source, United Nations

Image source, United Nations

Georgina Rannard
Reporting from COP27

That's it. COP27 is over.

After running over by two days - and several hours of quite confusing and chaotic moments towards the end - there is agreement in Sharm el-Sheikh.

What remains to be gavelled through are procedural items that the UN must formally agree on.

Ministers and negotiators will soon start flying home.

We're still mulling over what's been achieved here: the historic deal on loss and damage, and the political agreement.

I've just spoken to leading experts walking past me who are also putting their analytic eyes on the text.

We'll update you as soon as we get more details.

The COP27 summit agrees an overarching climate deal, summarising the political agreements made in Sharm el-Sheikh.

COP President Sameh Shoukry brought the gavel down on the document which represents the consensus all nations have come to.

The official COP27 Twitter account hails the "long-awaited" deal to launch a fund to help nations worst-hit by climate change.

"History was made," it says on Twitter.

"On African soil, the voice of the acutely affected communities were finally heard."

Georgina Rannard
Reporting from COP27

The conference is just coming back from a break after nations have been arguing over the final political text that will summarise this summit.

Some of that “huddling” has started that we mentioned earlier - UK negotiator Alok Sharma, who secured last year’s Glasgow climate pact, walked over to the US.

The EU joined the group. There was some shaking of heads.

They were likely to have been discussing how far rich nations want to go in this political text on when and how the world will stop using fossil fuels.

“It does not raise ambition at all, we are disappointed,” Norway’s environmental minister has just told journalists standing by the huddle.

Justin Rowlatt
Climate editor, reporting from COP27

The current version of the final agreement here at COP27 does not raise ambition on cutting emissions from the deal reached at the last summit in Glasgow.

The final session of the conference here in Egypt has been suspended for half an hour while that is being discussed, so there could be changes.

The suspension follows a request from Switzerland, which heads a group of nations committed to raising ambition on climate.

That means it's likely that there is an attempt to strengthen the language in this key document.

At the moment it echoes the language of the Glasgow deal almost word for word.

That is disappointing given that the aim of these conferences is to steadily increase ambition in the climate battle.

Indeed some veteran observers of these conferences have spotted a new item in the energy section - the Egyptian text has added in "low-emission" energy sources alongside renewable power.

That could include all sorts of power supplies including - some here in the conference hall fear - gas.