COP27 draft climate deal retains 1.5C limit, but many issues unresolved

The first draft of a deal being hashed out at the COP27 climate summit in Egypt would keep a target of limiting global warming to 1.5 degrees Celsius but left many of the most contentious issues in the talks unresolved ahead of a Friday deadline.
Egypt’s COP27 president urged negotiators to speed up the pace on overcoming their differences, while poor nations slammed the draft for failing to address their need for funds to cope with damage already being wrought by climate-driven storms, droughts and floods.
The 20-page draft for a hoped-for final agreement repeats the goal from last year’s Glasgow Climate Pact to limit warming to 1.5C, and asks countries “to accelerate measures towards the phase down of unabated coal power and phase out and rationalize inefficient fossil fuel subsidies.”
It also “welcomes” the fact that delegates had begun discussions on launching a so-called loss and damage fund for countries being ravaged by climate impacts, but did not include details for launching it.