COP27 Summit strikes historic deal to fund climatic changes.

 A fraught UN climate summit wrapped up Sunday with a landmark deal on funding to help vulnerable countries cope with devastating impacts of global warming -- but also anger over a failure to push further ambition on cutting emissions.

UN chief Antonio Guterres said the UN climate talks had "taken an important step towards justice" with the loss and damage fund, but fell short in pushing for the urgent carbon-cutting needed to tackle global warming.

 With around 1.2C of warming so far, the world has seen a cascade of climate-driven extremes, shining a spotlight on the plight of developing countries faced with escalating disasters, as well as an energy and food price crisis and ballooning debt.

 "Equally, the renewed commitment on the 1.5C global warming limit was a source of relief. However, none of this changes the fact that the world remains on the brink of climate catastrophe."