COP 28 - $260M in Pledges Launch Loss and Damage Fund

[Oscar]

$260M in Pledges Launch Loss and Damage Fund at COP28

[ https://www.theenergymix.com/breaking-2 ... -451866381 ]

November 30, 2023 Primary Author: Mitchell Beer The Energy Mix

EXCERPT: "An early deal on loss and damage funding for countries on the front lines of the climate emergency drew some focus away from a conflict of interest scandal embroiling COP28 organizers as United Nations climate negotiations got under way this morning in Dubai, United Arab Emirates (UAE).

On the opening day of the conference, delegates from nearly 200 countries adopted a draft framework to establish an international loss and damage fund, with the World Bank as its temporary host, Bloomberg News reports. The fund launches with US$260 million in pledges, including $100 million each from the UAE and Germany, $50 million from the United Kingdom, and $10 million from Japan. . . . "