COP28 kicks off with climate disaster fund victory
By Kate Abnett, Maha El Dahan and Valerie Volcovici
DUBAI (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 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 to a substantial sum, including $100 million from the COP28 host United Arab Emirates, another $100 million from Germany, at least $51 million from Britain, $17.5 million from the United States, and $10 million from Japan.
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.
But some groups were cautious, noting there were still unresolved issues including how the fund would be financed in the future.
«The absence of a defined replenishment cycle raises serious questions about the fund's long-term sustainability,» said Harjeet Singh, head of global political strategy at Climate Action Network International. «The responsibility now lies with affluent nations to meet their financial obligations in a manner proportionate to their role in the climate crisis.»
Adnan Amin, CEO of the COP28 summit, told Reuters this month the aim was to secure several hundred million U.S. dollars for the climate disaster fund during the event.
Pope Francis, who was forced to cancel his trip to COP28 due to illness, sent a message on social
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