Dubai, Nov. 30, 2023 – Delegates at the UN Climate Conference (COP28) in Dubai on Thursday finalised agreement on a fund to compensate vulnerable countries struggling to cope with loss and damage caused by climate change.
This was major breakthrough on the first day of this year’s UN climate conference.
“Today’s news on loss and damage gives this UN climate conference a running start.
“All governments and negotiators must use this momentum to deliver ambitious outcomes here in Dubai,” said UN climate chief Simon Stiell during a press conference at which the announcement was made.
The fund has been a long-standing demand of the developing nations at the forefront of climate change and coping with the cost of devastation caused by ever-increasing extreme weather events such as drought, floods, and rising seas.
Following several years of intense negotiations at annual UN climate meetings, developed nations extended their support for the need to set up of the fund last year during COP27 in Sharm el-Sheikh, Egypt.
Reportedly, Sultan al-Jaber, the President of the COP28 climate conference, has said that his country, the United Arab Emirates, would commit $100 million to the fund.
Germany has also reportedly pledged a contribution of $100 million to the fund. United States and Japan have also announced contributions to the fund.
The 28th annual meeting known as ‘COP’ after the Conference of Parties to the UN Framework Convention on Climate Change (UNFCC), is scheduled to run through to Dec.12.
The action is taking place at the sprawling campus of Expo City, which has been decorated with trees and foliage. It is located on the outskirts of Dubai and is expected to host over 70,000 delegates, climate negotiators and other participants coming together to shape a better future for the planet.
Speaking earlier on Thursday at the opening of the conference, UNFCCC Executive Secretary Simon Stiell issued a warning that the world is taking “baby steps” in the face of a terrifying planetary crisis that requires bold action now.
“We are taking baby steps and stepping too slowly to work out the best responses to the complex climate impacts we are faced with,” he told delegates gathered for COP28.
The UN climate chief’s warning came just hours after the UN weather agency, known as WMO, issued a provisional report saying that this has “shattered” climate records accompanied by extreme weather which has left a trail of devastation and despair. (UN News)
