Despite the breakthrough funding for developing countries, the results of Cop27 look very similar to last year's climate summit in Scotland
Group of members 'deeply disappointed' and calls for 'urgent escalation'
It is now 8am in Sharm El-sheikh and the closing plenary is still underway, with final statements being made by parties and observers.
Some excitement over the historic Cop27 deal on loss and damage gave way to the realization that the conference fell short of the fundamental challenge of agreeing to more rapid reductions in greenhouse gas emissions.
Australian climate negotiator Sally Box just made a statement on behalf of members of the Umbrella group – a negotiating bloc that includes Australia, Canada, Japan, Iceland, Israel, New Zealand, Norway, the United Kingdom and the United States.
The loss-and-damage deal is historic, he said, but:
We must go further in light of the concrete findings of recent science including by recognizing that global emissions must peak by 2025 to keep 1.5C alive.
In his speech at the plenary, he called on all countries to make an "urgent increase in our efforts".
Parties, we must turn determination into action. We are very disappointed because several parties are trying to restrain the ambition of this [climate mitigation] work program. We cannot decide to do less.
Note: an earlier version of this post said Kristen Tilley from Australia had delivered the statement. Sorry for the mistake.
More reactions coming in.
Ruth Townend, community and environment program researcher at Chatham House, gets straight to the point. “World governments have, at most, 3 years to bend the emissions curve, and transformational changes to energy, transport and food systems, the global financial architecture and the way individuals live their lives, can achieve this.
“In Sharm-el-Sheikh, precious time and opportunities are wasted. Governments can still lead the signal of change out of COP27 through ambitious national action in the coming year, ahead of next year's COP28 ready to take transformative multilateral action if needed. The future of the citizens of the world, you, me, our children and grandchildren, rests on their shoulders."
Katie White, Executive Director Advocacy & Campaigns at WWF, said: “While the agreement on loss and damage financing is a positive step, it risks being a catastrophic cash advance unless emissions are reduced quickly in line with the 1.5°C goal. By refusing to phase out fossil fuels, governments have failed to reach a more ambitious agreement than in Glasgow last year and put our health and security at risk.
“As attention turns to the COP15 biodiversity summit in Montreal next month, the British government must lead from the front in securing a game-changing global deal to reverse natural loss by 2030 and revive our world.”