CLIMATE

Phasing out fossil fuels hasn’t worked, now Europe has a new idea for COP28

Last year’s defeat for the EU and its allies on emissions cuts at COP27 has now set up what will be one of the hardest fights ahead of COP28

Frans Timmermans: “There’s no way — no way — we’re going to achieve any of our goals if we do not do more on mitigation.” Picture: Getty

Near the end of the United Nations climate summit in Sharm El-Sheikh last year, European Union climate chief Frans Timmermans offered a grand bargain to break the deadlock in the two-week negotiations.

The 27-member bloc would consent to the creation of a finance facility to pay for loss and damage caused by climate change, fulfilling a demand made by developing countries. But the EU’s support would come only if all countries agreed on a stronger ...