Representatives at COP27 in Egypt have been locked in negotiations for far longer than expected.
The key disagreement is over a dedicated "loss and damage" fund to pay for the effects of climate change, which developing countries have been calling for for decades.
In a dramatic move, late on Thursday night the EU said it could agree to this on some conditions - which proved to be controversial.
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COP27 communications group lambasted over work for fossil-fuel industry\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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