Final talks over the weekend to agree a proposal for a new climate disaster fund averted a deadlock ahead of the U.N.'s COP28 climate summit later this month, but cracked open tough new questions about who will pay and how soon.
'Cop28 UAE' logo is displayed on the screen during the opening ceremony of Abu Dhabi Sustainability Week under the theme of 'United on Climate Action Toward COP28', in Abu Dhabi, UAE, January 16, 2023. REUTERS/Rula Rouhana/File PhotoFinance issues risk derailing climate negotiations
After months of contentious talks, negotiators produced recommendations for the fund that will be put to nearly 200 governments for approval at the annual U.N. climate summit COP28, from Nov. 30 to Dec. 12 in Dubai. The recommendation "urges" developed countries to take the lead in capitalizing the fund and also "invites" contributions from other countries and funding sources like carbon markets.
The official welcomed the fact that the committee agreed on "many aspects of loss and damage funding" but expressed regret that the text does not "reflect consensus concerning the need for clarity on the voluntary nature of contributions". "You're not going to pledge to the fund if you don't know where the money's going to go," the European negotiator said.
Mohamed Nasr, Egypt's lead climate negotiator and representative on the committee, told Reuters such pledges would be crucial to the overall COP28 negotiations.
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Climate 'loss and damage' fund makes its way to COP28Designed to help developing nations ward off climate change, the fund is highlighting deep international divisions.
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Stage set for conflict at COP28 with mixed response to outcome of key climate talksTense negotiations at the final meeting on a climate-related loss and damages fund to help poor countries hit hard by a warming planet ended in Abu Dhabi.
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Stage set for conflict at COP28 with mixed response to outcome of key climate talksTense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years. The U.S.
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Stage set for conflict at COP28 with mixed response to outcome of key climate talksTense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four...
Weiterlesen »
Stage set for conflict at COP28 with mixed response to outcome of key climate talksTense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years.
Weiterlesen »
Stage set for conflict at COP28 with mixed response to outcome of key climate talksTense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years.
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