“No deal is better than a bad deal.”

After more than two weeks of negotiations, no agreement was in sight at the climate summit in Egypt. European Climate Commissioner Frans Timmermans is worried about the outcome. “All EU ministers are ready to walk away if we don’t get a good result.”

The climate summit in the coastal resort of Sharm el-Sheikh was supposed to end yesterday, but two topics remain under discussion: accelerating the reduction of greenhouse gas emissions and the creation of a global climate damage fund for countries vulnerable to the consequences. Climate change.

The United States, Australia, New Zealand and the United Kingdom, among others, submitted a proposal on the latter last night. The fact that the United States now wants to participate is also seen as important. This country has always been firmly against the Compensation Fund. The European Union has already stated that it supports such a fund.

The big question now is how other powerful countries feel about it, especially China. China is still officially seen as a developing country, but in practice, according to the European Union, this is no longer the case. “We can only accept a compensation fund if it targets the most vulnerable countries,” says Timmermans.

The European Commissioner stresses that the 1.5 degree warming target must be maintained as a maximum. He says he has seen little movement from the other side in recent hours. “We will not accept a consequence if steps are taken again. We would rather no deal than a bad deal.”

Despite his fears, Timmermans believes a positive outcome is still possible today.

Climate and Energy Minister Rob Gettin, who is also in Sharm el-Sheikh, is gloomy. He says some points from last year’s Glasgow climate agreement are under discussion again.

“I don’t think anyone is happy about the progress that was made last night,” says Gettin. “We’re still waiting for some text messages, but it looks like we’re back in Glasgow, which is unacceptable.”