Photo and Excerpt from www.reuters.com
DUBAI, Nov 30 (Reuters) – The U.N. climate summit clinched an early victory Thursday, with delegates adopting a new fund to help poor nations cope with costly climate disasters.
COP28 President Sultan Ahmed al-Jaber said the decision sent a “positive signal of momentum to the world and to our work here in Dubai.”
In establishing the fund on the first day of the two-week COP28 conference, delegates opened the door for governments to announce contributions.
And several did, kicking off a series of small pledges that countries hoped would build throughout the conference to a substantial sum, including $100 million from the COP28 host United Arab Emirates, at least $51 million from Britain, $17.5 million from the United States, and $10 million from Japan.
Later, the European Union pledged $245.39 million, which included $100 million pledged by Germany.
The early breakthrough on the damage fund, which poorer nations had demanded for years, could help grease the wheels for other compromises to be made during the two-week summit.