Brazilian president-elect Luiz Inácio Lula da Silva got a hero’s welcome at COP27 conference upon his arrival at Sharm-el-Sheikh, Egypt, on Thursday, when the gathering broke into “olé olé” chants.

“We’re so glad to be part of the conversation again,” one Brazilian youth activist shouted.

Inside Brazil’s glittering pavilion, the busy coffee bar felt lively and celebratory (especially in contrast to others, some of which are starting to pack up or have already been abandoned).

But there are downsides to being the belle of the ball. “There is a lot of pressure. The whole world is looking at us,” one delegate told the media. “But we can’t do anything. We have to wait until we have our new president.”

Lula won’t be sworn in until January 1, 2023.

On Thursday, Egypt, which is hosting COP27, released a 20-page first draft of the final text. “This is a significant moment in the life cycle of a COP because it’s an indication of areas of agreement and disagreement,” says Nature’s Ehsan Masood.

The majority of uncertainties are related to one of the most contentious issues at the conference: climate finance for poorer countries, including loss-and-damage funding.

“Fossil fuel” is mentioned only once, in a section on renewable energy, which has incensed campaigners who want acknowledgement that fossil fuels must be phased out to halt global warming.

Facing a Friday deadline, the gulf between countries is still too wide for a successful outcome. But brinkmanship is not necessarily unusual at this point in a COP.

Last year at this time, the feeling at COP26 was also one of pregnant pause. Delegates have a long night ahead as negotiators will work without sleep to deliver the final texts that must be agreed on by all parties.

• A Tell report