COP28, the United Nations climate meeting in Dubai, got off to a good start, with delegates supporting a new fund to assist poor countries in dealing with climate-related calamities.
The decision, which was welcomed by COP28 President Sultan Ahmed al-Jaber, drew early donations from a variety of states and institutions. Notable promises include $100 million from the United Arab Emirates, $51 million from the United Kingdom, $17.5 million from the United States, $10 million from Japan, and a sizable $245.39 million from the European Union, which included a $100 million commitment from Germany.
This concession on the "loss and damage" fund, a long-standing demand from less-affluent countries, is seen as a promising indication, perhaps paving the way for other compromises during the two-week summit. The approval of the fund, according to Alden Meyer of the think tank E3G, eliminates the use of "loss and damage" as a negotiation tool.
While the global stocktake takes center stage following the fund's implementation, ensuring countries' progress is in line with the Paris Agreement's targets, worries about the fund's long-term sustainability remain due to an uncertain replenishment period. Meanwhile, COP28 President al-Jaber urged states and fossil fuel firms to work together to reach climate goals, noting the need to address the role of fossil fuels in discussions. The summit's development is being keenly monitored in the hopes that it would lay a solid framework for global climate action.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
