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COP28: Poor countries triumph in 30-year battle for climate funding

1 min read
Source: BBC.com
COP28: Poor countries triumph in 30-year battle for climate funding
Photo: BBC.com
TL;DR

At COP28, delegates have agreed to launch a long-awaited fund to pay for damage caused by climate-driven storms and drought. The EU, UK, US, and others have immediately announced contributions totaling around $400 million for poor countries affected by climate change. This surprise decision on day one of the conference is seen as a smart move by the UAE, which has been criticized for its plans to discuss fossil fuel deals. The fund aims to address the impacts of climate-related weather events that many countries suffer from, providing financial support for losses and damages. This agreement sets the stage for further ambitious action on climate change during the summit.

Topics:top-newsclimate-change#climate-change#climate-collapse#climate-finance#cop28#loss-and-damage-fund#vulnerable-countries
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  1. COP28: Poor countries win 30-year fight for climate cash  BBC.com
  2. A Climate Summit Begins With Fossil Fuels, and Frustration, Going Strong  The New York Times
  3. Nations pledge millions to new climate damage fund at COP28, US criticized for its small contribution  CNN
  4. Opinion | Cop28: to ramp up climate action, we must all play our part  South China Morning Post
  5. COP28 in Dubai: We Already Know It Won't Be Enough Climate Change Progress  Bloomberg

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