This historic decision, which was applauded by delegates of nearly two hundred participating countries, is the result of the COP27 conference held last year in Egypt, where the establishment of the fund was initially approved, but its broad outlines were not determined, which highlights the achievement achieved in the current session.
“I congratulate the parties on this historic decision. It sends a positive momentum signal to the world and to our work,” said the President-designate of the Conference of the Parties (COP28), Sultan Al Jaber, after adopting the decision to “operate” the fund, which was established at COP27.
After a year of tension, on November 4 in Abu Dhabi, during a preliminary ministerial meeting for COP28, the countries of the North and the South reached a settlement regarding the rules for operating the fund, which is expected to be actually launched in 2024.
Madeleine Diouf-Sar, head of the Group of Least Developed Countries, which includes 46 of the poorest countries, welcomed the decision, considering it to have “great meaning for climate justice.” But, she added, “an empty box cannot help our citizens.”
The UAE is at the forefront of shareholders
- UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan said on Thursday that his country will contribute $100 million to the arrangements for the Climate Disaster Fund.
The Emirati Foreign Minister wrote on the .
- America announced that it will contribute $17.5 million to the Climate Disaster Fund
- Britain will contribute up to £60 million
- Japan will contribute $10 million
- Germany will contribute $100 million
The Climate Conference of the Parties (COP28) kicked off on Thursday in Expo City Dubai, amid wide international participation.
At the beginning of the events, the UAE took over the presidency of the conference from Egypt, which chaired the 27th edition of the conference last year.
The Minister of Industry and Advanced Technology of the Emirates, the appointed President of the Conference of the Parties (COP28), Sultan Al Jaber, said on Thursday that the conference will not ignore any problem and will discuss climate challenges in a comprehensive manner, calling for fulfilling pledges related to climate financing and unifying efforts to confront climate change.
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