COP28: Poor countries triumph in 30-year battle for climate funding
Originally Published 2 years ago — by BBC.com
At COP28, delegates have agreed to launch a long-awaited fund to pay for damage caused by climate-driven storms and drought. The EU, UK, US, and others have immediately announced contributions totaling around $400 million for poor countries affected by climate change. This surprise decision on day one of the conference is seen as a smart move by the UAE, which has been criticized for its plans to discuss fossil fuel deals. The fund aims to address the impacts of climate-related weather events that many countries suffer from, providing financial support for losses and damages. This agreement sets the stage for further ambitious action on climate change during the summit.