Photo credit: REUTERS/Piroschka van de Wouw/File Photo. Retrieved from euronews.com
The European Union will make a “substantial” contribution to a new international fund for climate damages, the Commission announced today.
Climate Commissioner Wopke Hoekstra met with COP28 President Sultan Al Jaber in Brussels on Monday (13 November). In a joint statement, they declared their shared conviction that the climate summit must achieve the “highest possible ambition”.
It “must accelerate practical action on mitigation, adaptation loss and damage and climate finance and build a fully inclusive COP28 that leaves no one behind,” they said.
The “substantial financial contribution by the EU and its member states” to the loss and damage fund will be announced during the climate summit in Dubai which begins at the end of November, according to the Commission.
The joint statement adds that this pledge will come in the context of an ambitious outcome at COP28.
No details have so far been given about the exact size of the planned contribution.