From the New York Times, I'm Sabrina Tavern-E.C. and this is the Daily.

COP27, the global gathering to combat climate change, has kicked off in Egypt.

Last month, the world gathered in Sharmochek, Egypt for the 27th UN Conference on Climate

Change.

COP27.

Sharmochek is another milestone for measurement, for accountability and for focus.

And finally, after years of pushing, elation over a landmark compensation deal.

leaders at the COP27 climate summit in Egypt say they've reached a historic deal to help

vulnerable countries.

We're a new fund to help developing countries cope with the impacts of climate change.

The rich nations of the world, the ones most responsible for the emissions that have caused

climate change, agreed to pay into a fund to help poor nations, the ones who bear the

brunt of the effects of climate change.

I think it's a fundamental breakthrough that the fund is now there.

But in the background, an even more meaningful plan was taking shape, an initiative led

by the tiny island nation of Barbados.

There could be a restructuring of the architecture of international finance, for example, which

may encourage private capital to come into the battle on climate change.

Today, climate reporter David Gellis on the plan that could remake the way the world

of finance deals with climate change.

It's Friday, December 2.

So David, from what I understand, COP, the UN conference on climate change, it's kind

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