COP28 summit opens with hopes for early deal on climate damage fund

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Countries at the U.N.'s COP28 climate summit opening on Thursday hope to clinch an early deal on a new fund to pay for climate-caused damage, aiming to muster some political goodwill before talks turn to divisive topics including the future of fossil fuels.

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30 Nov 2023

As the 70,000 delegates expected to attend COP28 descend on the gleaming Emirati city of Dubai, governments are preparing for marathon negotiations on whether to agree, for the first time, to phase out the world's use of CO2-emitting coal, oil and gas.

The burning of these fuels is the main cause of climate change.

With finance also high on the meeting agenda, the United Arab Emirates' COP28 presidency published a proposal on the eve of the summit, for countries to adopt a new U.N. climate damage fund — raising hopes among some delegates that this could be among the first deals struck in Dubai.

The draft deal, which representatives from developed and developing countries painstakingly crafted during months-long negotiations this year, would launch a fund to help vulnerable nations cope with the