Fridays for Future protest calling for money for climate action at Cop27. Photograph: Peter de Jong/AP

If you wonder what our youth are up to, take a look at what the Guardian’s team of Fiona Harvey, with Adam Morton and Patrick Greenfield is reporting from Sharm el-Sheikh:

Cop27: EU agrees to loss and damage fund to help poor countries amid climate disasters

Change in stance puts spotlight on US and China, which have both objected to fund

A breakthrough looked possible in the deadlocked global climate talks on Friday as the European Union made a dramatic intervention to agree to key developing world demands on financial help for poor countries.

In the early hours of Friday at the Cop27 UN climate summit in Egypt, the European Commission vice-president, Frans Timmermans, launched a proposal on behalf of the EU that would see it agree to establishing a loss and damage fund.

Rich countries had been holding out against this key demand, arguing it would take time to establish whether such a fund was needed, and how it would operate.

Timmermans said on Friday morning the EU had listened to the G77 group of developing countries, for whom the establishment of a fund at this summit is a core demand.

Loss and damage refers to the ravages of extreme weather on the physical and social infrastructure of poor countries, and the finance needed for rescue and reconstruction after climate-related disasters…

Read the whole story here.