A landmark deal has been struck by almost 200 countries at the UN summit COP27 in Egypt, to help poorer nations cope with the destruction from global warming.

Applause broke out at the summit in Sharm El Sheikh, when the historic deal was made to establish a fund to help poor countries that are worst-hit by climate change.

The global climate meeting was scheduled to end on Friday, but the division over the final deal pushed the summit into overtime.

Earlier President of the COP27 summit, Sameh Shoukry admitted that not all parties were satisfied with the deal.

“It is the parties who must rise to the occasion and take upon themselves the responsibility of finding the areas of convergence."

It’s the first time the issue has been discussed at a major summit.

UN Secretary-General Antonio Guterres recently warned the world was headed for “climate chaos” as he urged world leaders to commit to cutting emissions.

However, there are still fears that the target of curbing global warming to 1.5C above pre-industrial times in line with the Paris Agreement, may still not be upheld.

“The 1.5°C figure is not some random statistic,” Secretary-General of the United Nations World Meteorological Organization, Petteri Taalas recently said.

“Rather an indicator of the point at which climate impacts will become increasingly harmful for people and indeed the entire planet.”

Climate Change Minister Chris Bowen spoke at the summit saying Australia is committed to helping nations in the pacific

“We are boosting assistance to the region with an additional $900 million dollars to support the pacific families develop a resilience in dealing with the climate emergency”

"That’s why along with Pacific nations we are seeking to host COP 31 in 2026," he said.

"Pacific voices have lead this debate for decades and they must be heard." (Sky News, except for amended headline)

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