COP28 Struggles with Climate Finance and Fossil Fuel Deal, African Group Warns
The African group has warned that the ongoing COP28 talks have failed to deliver fair and equitable finance for climate adaptation, which is crucial for the survival of the continent. Progress has been slow, with countries yet to agree on measurable targets, guidelines, and finance agreements that reflect the burden on developing countries, particularly in Africa. The African group is pushing for a workable framework and finance agreements that address the adaptation gap and ensure that Africans are not left behind. African countries are also advocating for fair and equitable decisions on mitigation, adaptation, loss and damage, and implementation, all of which require climate finance. They are calling for wider reform of global finance mechanisms that currently favor wealthier countries and for a just transition program that connects climate action and finance with sustainable development.