EU would walk away from a bad COP27 deal, warns climate policy chief Timmermans

The European Union warned it was prepared to walk away from climate negotiations if a satisfactory outcome could not be reached, but said it still believed a deal could be struck on Saturday between negotiators at the COP27 summit in Egypt.

"We need to move forward, not backwards and all (EU) ministers ... are prepared to walk away if we do not have a result that does justice to what the world is waiting for - namely that we do something about this climate crisis," said EU climate policy chief Frans Timmermans.

Speaking to reporters on the sidelines of the summit, he called on other parties to the negotiations to reciprocate efforts to find a deal, particularly on the issue of funding for poorer countries hit by climate disasters.

"We believe that a positive result today is still within reach. But we are worried about some of the things we have seen and heard over the last, let's say, 12 hours," he said.

"We'd rather have no decision than a bad decision."