Justin Rowlatt
BBC Climate editor

Overnight details of a new proposal was leaked.

We understand it has been drawn up by a group of developed countries, including the UK, Australia and New Zealand.

We know it has been discussed with the EU, the US and some developing nations.

We cannot say for certain now, but it might just be the beginning of a compromise that countries can agree on.

The proposal agrees with developing nations that there should be a dedicated fund for the vexed issue of “loss and damage” - the impacts climate change is having on vulnerable nations right now.

It talks about lots of “parties” contributing to the fund. That means some of the big developing nations would almost certainly be included.

But the details would be decided by a taskforce which would report back next year.

A final decision on the arrangements would be made in 2024.

It means many of the really difficult questions - the details of who will pay and who should get the cash - would not need to be decided here.

Greenpeace are calling the proposal “underhand” and say it could undermine efforts to set up a loss and damage fund.

But the clock is ticking and negotiators will want to deliver some progress.

Patrick Hughes
Climate reporter

Image source, Grata Fund

Uncle Pabai and Uncle Paul are from the Torres Strait Islands - remote, low-lying islands in the waters between mainland Australia and Papua New Guinea.

Their ancestors have lived on those islands for thousands of years. Now, they say their homes face an existential threat from rising sea levels and destructive tides which flood the land.

“We’ve lost everything. Our gardens, our food, everything that we need. We’ve lost it because of the salt water that is damaging the soil,” says Uncle Pabai.

“We’re sinking, we’ve got to do something, otherwise it’s going to be too late,” says Uncle Paul.“I will have totally lost my cultural identity.”

Their full names are Pabai Pabai and Guy Paul Kabai, and the title Uncle is used as a mark of respect for Elders in the Torres Strait Islanders’ communities.

They have travelled overseas for the first time to COP27, to meet with other community leaders and share their peoples’ story, in the hope it will have an impact on Australian government policy.

But they are not placing all of their hopes on COP. The two men have brought a legal case against the Australian government in an attempt to force it to drastically cut its emissions.

The current government, which took office in June, has said it will work with the Torres Straits Islanders on climate change.

Another group of residents of the same islands took their case to a UN human rights committee last year.

Georgina Rannard
Reporting from COP27

There’s no better sign that COP is in its final stretch than the abandoned Children and Youth pavilion.

For two weeks activists, journalists and non-governmental organisations have stopped by the vibrant stand to chat to the passionate campaigners here.

But now even their sign is missing letters.

All around us, the venue is being dismantled - food stalls packed up, chairs stacked. On Friday night while I was live-on-air in a pavilion, workers began banging tools to take down the walls.

The bustling corridors between pavilions are now empty.

But there are rooms still standing - the small offices where negotiators sit pouring over texts, and the plenary where the final deal should be agreed. That is, if the COP doesn’t collapse without a deal..

Image source, Getty Images

We've been hearing a lot about keeping the global temperature rise to 1.5C to avoid the worst impacts of climate change - but what does it mean?

The figure refers to how much higher, on average, global temperatures are than in the 19th Century, before the industrial revolution.

The planet has already warmed about 1.1C since then. The IPCC, the UN’s panel of climate scientists says many impacts of global warming are already “irreversible”, with 40% of the world's population now "highly vulnerable" to climate change.

Also, the IPCC and Nasa say a rise of 2C, compared to 1.5C would mean:

• 10 million more people would be at risk of coastal flooding
• Up to twice as many people would struggle to access water because of climate change
• More than a third of the world's population would be exposed to severe heatwaves once every five years - compared to a seventh at 1.5C
• The Arctic would be free of sea-ice once a decade - compared to once per century at 1.5C
• Coral reefs would become virtually non-existent, compared to declining by 70-90% at 1.5C

Also, small island states have long argued that keeping temperatures below 1.5C is critical to their survival.

Justin Rowlatt
BBC Climate editor

The UN worries that the deadlock in these talks risks a breakdown in trust between rich and poor nations, between the global north and the global south.

But there has been a twist in these negotiations - an offer from the European Union.

Developing countries have insisted there must be a dedicated fund for the “loss and damage” climate change is causing now.

The EU has said it will agree to that - but with conditions.

One of them is that the funds must go to the most vulnerable nations – think Saharan African countries and small island states.

The EU negotiators say they are experiencing the worst impacts of climate change and are also the least able to cope so the cash should go to them.

It sounds sensible but it overturns one of the principles that has underpinned these talks since they began 30 years ago - the definition of what a developing nation is.

At the moment China, Indonesia, South Korea and Saudi Arabia are on the same status as the Maldives, Mali and Mauritania.

The EU says times have changed, China and India are now amongst the biggest emitters - and biggest economies - in the world, for example.

China and India say they have huge populations and their emissions per head are way lower than the US.

It means the EU offer has opened up a whole new discussion just as the talks were set to close.

Image source, .

Georgina Rannard
Reporting from COP27

Frans Timmermans, the European Union’s lead negotiator here at COP27, has laid down a clear red line for these talks. "We'd rather have no decision than a bad decision," he told journalists.

He says the EU will not accept a deal that loses commitment to that crucial temperature threshold of 1.5C - that’s the degree of warming that scientists agree is necessary to avoid the worst of climate change. It’s enshrined in COP agreements, including the historic Paris Agreement and last year's Glasgow.

The EU put forward a deal late on Thursday that offers a fund for finance related to the irreversible losses and damages that developing nations face. They want other developed countries to get on board, and for at-risk nations to agree to it.

But they are worried that as the clock ticks on getting a deal over the line, the commitment to 1.5C could be compromised.

Now this morning they are saying they could walk away from COP27.

Speaking ealier this morning, COP27 President Sameh Shoukry said: “We are here facilitating this process, creating an environment, and providing a text. We recognise keeping 1.5C alive.”

Image source, EPA-EFE/REX/Shutterstock

Sameh Shoukry, COP27 president and Egyptian host of the summit, has been giving an update on progress, after negotiations went on late into last night.

Acknowledging there was still "dissatisfaction" among parties, he urged them to "rise to the occasion and take upon themselves the responsibility of finding the areas of convergence".

He said "a vast majority" of the parties had indicated the current agreement text as "balanced".

"The world is watching, time is not on our side, we must all rise to the occasion, all must show the necessary flexibility," he said.

Victoria Gill
Reporting from COP27

Image source, EPA

“This is about solidarity - the polluter must pay,” Kenyan environmentalist Wanjira Mathai told me on Friday.

But as the talks run over into the weekend, deep divisions here come down to money.

The poorest, most vulnerable nations have been battling for 30 years to have the issue of loss and damage on the official agenda at these talks.

At COP27, they finally succeeded. But so far, what is being offered falls short of what vulnerable nations say they need.

Fundamentally, developing countries want a dedicated fund - paid into by the richest and historically most polluting countries - whereby they can access money to pay for destruction caused by climate change-fuelled events such as storms and floods.

The world saw a horrifying example of that cost in the floods in Pakistan earlier this year.

Developed countries, like the UK and US, will not want to promise to foot the ever-increasing bill for climate damage. A possible sign of movement on the issue came from an EU proposal suggesting that China, a country which now emits large amounts of planet-warming gases could contribute too.

But here is just one example of the tricky politics at play: Pakistan says the floods there caused $30bn worth of damage, and that proposal would not cover them, because they are not considered among the “most vulnerable” countries.

At an event that gives every nation a voice on this global issue, the key division is still between rich and poor.

Matt McGrath
Environment correspondent

Image source, Reuters

Despite the ongoing wrangling over loss and damage - money for countries experiencing the impacts of climate change - there have been some notable achievements over the 14 days of this COP.

Most have revolved around expanding commitments made by countries at COP26 in Glasgow on issues like phasing out methane.

Plans to end deforestation also got a boost from Brazil’s president-elect, Luiz Inacio Lula da Silva.

Lula told the conference there would be zero deforestation in the Amazon by 2030.

Another important step was the launch by the UN of new rules to deter greenwashing.

That’s when companies or countries make huge claims for what appear to be strong climate actions.

A UN panel has come up with tough guidelines that would require companies to count all their greenhouse gas emissions, direct and indirect.

Another achievement during this COP was the launch of a coal phase-out plan for Indonesia.

While technically it happened during the G20 summit in Bali, it also has implications for countries at this meeting.

Under the scheme, richer countries will provide some $20bn to move Indonesia off the most polluting fuel source.

Expect more countries to follow this path.

In a line: The COP27 summit brings world leaders together to discuss tackling climate change.

Why it matters: Fossil fuel emissions caused by humans are causing global warming and we’re already seeing extreme weather events linked to climate change. Urgent action is needed to avoid catastrophic consequences for the planet and the people living on it.

Why is it called COP27?: UN climate summits are held every year, for governments to agree steps to limit global temperature rises. COP stands for"Conference of the Parties". The parties are the attending countries that signed up to the original UN climate agreement in 1992. This is the 27th COP - last year Glasgow hosted COP26.

What’s on the agenda? A key part of the process is individual countries setting targets on how they will cut emissions. Increased targets were set in Glasgow, but even if met, those still aren’t enough to limit warming to the target of 1.5C, which scientists say is crucial for avoiding the worst impacts. Poor countries that are already struggling with the impacts of climate change want more money.

Read more here., external

Justin Rowlatt
BBC Climate editor

It is all to play for here in the Sinai. The real haggling has begun.

The Europeans have put in an explosive offer.

It would require China and other developing countries joining developed nations in paying for the loss and damage climate change is causing the most vulnerable nations.

That would mean high emitting big economies like China, India, Saudi Arabia, Russia and South Korea would be on the hook for cash payments too.

Naturally they don’t like that.

Word from the negotiating rooms is that the Egyptian hosts have responded by dialling back the wording on the commitment to limiting temperature rises to 1.5C above pre-industrial levels.

Europe has responded by saying it is happy to walk away from the deal.

So, the question is are they serious, or is this just a bargaining ploy?

At this stage we just can’t say.

Image source, EPA-EFE/REX/Shutterstock

Good morning. Friday was supposed to be the final day of this year’s UN climate summit, COP27 - but with no deal reached, talks have been extended into today.

Nearly 200 countries need to reach an agreement on the next steps to tackle climate change but nations are deeply divided over cash to help poor countries cope with the impacts of climate change - termed finance for “loss and damage”.

Keeping 1.5C alive is also an area of fraught negotiation. This refers to limiting global warming to 1.5C above pre-industrial levels, which scientists say would avoid the worst impacts of climate change.

We’ve just heard from the COP27 president, Sameh Shoukry, that the draft text of the deal is committed to keeping the 1.5C goal alive.

However, the EU’s climate policy chief, Frans Timmermans, has warned it is prepared to walk away from negotiations if a satisfactory outcome is not reached.

Stay with us for live updates.