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EU states are meeting late Friday to decide whether to jointly withdraw from the Energy Charter Treaty (ECT), a well-placed EU source told Carbon Pulse, with Luxembourg the latest to say it will drop out due to concerns the pact will hinder its climate efforts.

Money has started to flow into nature-based futures during the last week of COP27, often a bullish signal for the market, although prices have continued to edge sideways.

Papua New Guinea’s climate envoy has said the recent announcement by the country’s sports minister entrusting the country’s carbon market regulations to a Dubai-based company is not binding and will likely be quashed by the government, as the nation and its allies lobby for their pre-2021 REDD+ credits to be allowed to count towards Paris goals on the final scheduled day at COP27.

It’s a miracle that any one of us is alive today. Those with the power to grant that miracle to future generations chose not to

The chances of any one person being born were calculated by the life coach Dr Ali Binazir. He multiplied the probability of your parents meeting, mating and conceiving by the chances of a particular sperm and egg fusing; of all your human and hominid ancestors reaching reproductive age; and of all them successfully reproducing. He arrived at a figure of one in 10 to the power of 2,640,000. In other words, a 10 followed by 2.6m zeros. It’s an unimaginable, miraculous number. Yet here we are.

The chances of being alive right now, as a member of one of the first generations to know the path it is on, and one of the last that can change it, must add several more zeros to this crazy number. The chances of being the president or prime minister of your nation at this critical moment … well you get the idea.

George Monbiot is a Guardian columnist

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Nakeeyat Dramani, a 10-year-old Ghanaian climate activist, appealed to delegates during a Cop27 session in Sharm el-Sheikh to 'have a heart'. Nakeeyat spoke 'on behalf of young people' who feared for their future, after seeing the impact of the climate crisis every day, in the form of air pollution, flooding and droughts. 

She joined Ghana's delegation to add her voice to the pressing consequences of the climate emergency in her country. At the end of her speech, Nakeeyat recited a poem, telling leaders to work harder to halt the climate crisis

• Cop27: EU agrees to finance fund for poorer countries – live
  

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Campaigners who interrupted US president’s speech had passes revoked after they put ‘lives in danger’

• Cop27 live – latest news updates

Four US activists who had their Cop27 accreditation revoked after briefly interrupting the US president, Joe Biden, in Sharm el-Sheikh have described the UN as “shameful” and say it has silenced Indigenous voices.

Big Wind, Jacob Johns, Jamie Wefald, and Angela Zhong missed the second week of the climate conference after being suspended for standing up with a “People vs Fossil Fuels” banner during Biden’s speech last Friday. The Indigenous activists, Wind and Johns, gave a war cry to announce themselves and draw attention to the fossil fuels crisis before security officials confiscated the banner. The group then sat down and Biden continued.

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It is not enough to professionally communicate the science of climate change. This is not a matter of rationality.

The role of science communication is to counter wilful ignorance. I don’t mean the deliberate placing of blinkers over the eyes or rose-coloured glasses on the nose. I mean the facts that are inconsistent with the pleasant stories we tell about ourselves, our species, our future. I mean the delusions we live by because they are enjoyable, help keep us sane and motivated, and those cultivated by vested interests to hoodwink us into putting their greed ahead of the public good.

Science develops inconvenient facts through the best form of knowledge production we have. It’s not flawless; it’s messy and human.

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Nations worked late into the night to find agreement on who pays the climate bill.

EUAs traded in a narrow range for much of Friday morning as bulls and bears battled it out, before the market broke higher on sustained buying shortly before midday, as energy markets fell back amid a build in North Sea gas supply.

Carbon Pulse has recently hired its first Greater China correspondent amid a push in Hong Kong and Taiwan to play a larger role in international carbon markets, adding to the news flow already emerging from Mainland China.

A mild November may be talked of as a ‘freak weather event’, but the climate crisis will make the abnormal normal

My fingers should be numb. My breath should rise in clouds. I want leaves to crunch and snap beneath my feet. I want to have to pull my coat tightly around me, to ram a hat low over my ears. I expect to be locking horns with the thermostat. But instead I find myself overheating. Is this the new November?

Following soaring temperatures across Britain throughout 2022 and a distinct lack of rain, we knew better than to expect our weather to resume its familiar winter course. An African plume of hot air whipping off the tropics, the Azores and Cape Verde has lifted London’s temperatures 8C above average. Porthmadog, north Wales, had a high of 21.2C on Remembrance Sunday. And we’re still pursuing a limit on global temperature rise of 1.5C.

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Circus Science by the Sea takes place this weekend in Westport and Achill island, coastal areas facing climate challenges

Cop27 may have been dismissed as a circus in some quarters, but a group of scientists and performers is staging a real circus in Ireland to inspire people to help tackle the climate crisis.

The eclectic mix of engineers, conservation experts, clowns, jugglers and acrobats will perform this weekend in what is billed as Europe’s first circus science and environment festival.

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More sharks are to be given protection from over-exploitation in what's seen as a conservation milestone.

Overfishing and a lack of regulation is pushing sharks to extinction – now a global body is hoping to better protect them

Countries at the world’s biggest wildlife summit have voted for the first time to regulate the trade that kills millions of sharks every year to feed the vast appetite for shark fin soup.

In what marine conservationists have hailed as a landmark decision, parties at the 186-nation Convention on International Trade in Endangered Species of Wild Fauna and Flora, or Cites, voted to limit or regulate the commercial trade in 54 shark species of the requiem family, including tiger, bull and blue sharks which are the most targeted for the fin trade. It will require countries to ensure legality and sustainability prior to authorising exports of these species.

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It’s Friday - the final day (?) - of week two at COP27 in Sharm el-Sheikh, and Carbon Pulse rounds up today's other news and announcements from the summit. Timestamps in local time (EEST, GMT+2).

The European Union has backed a loss and damage fund, one of the key demands of developing countries at the climate talks

The low-lying Pacific island of Tuvalu has been reaction to the EU’s proposal on loss and damage. Their finance minister, Seve Paeniu, called for support for phasing out all fossil fuels, language so far missing from the draft Sharm el-Sheikh agreement.

He described the EU position on loss and damage as a “breakthrough”.

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Liquidity continued to improve in China’s compliance and voluntary markets over the past week, though observers remain cautious about market outlook due to unclear policy signals.

The Australian government has awarded nearly A$29 million ($19.5 mln) in funding to farmers and land managers to make it easier for them to measure the amount of carbon in their soils, a joint statement from the ministers for climate change and agriculture announced on Friday.

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

• Cop27 live – latest news updates

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.

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The best of this week’s wildlife pictures, including migrating crabs, a rescued leopard and a monkey carrying a puppy

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