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Climate Damage Fund

All articles tagged with #climate damage fund

climate-change2 years ago

COP28: Tackling Climate Change Amidst Political and Corporate Challenges

At COP28, the United Nations climate change conference, a deal was announced to establish a fund to tackle climate change damage, with 18 countries pledging money. However, there is disagreement over whether China and India, the top greenhouse gas emitters, should contribute to the fund. China and India argue that they too have vulnerable communities and should receive financial support, while developed countries believe they should also contribute due to their emissions. The issue of who should pay and who should receive the fund remains contentious, highlighting the ongoing tensions between developed and developing nations.

climate-change2 years ago

EU Commits Significant Funding to COP28 Climate Damage Fund

The European Union (EU) has announced that it will make a "substantial" financial contribution to a new international fund aimed at addressing the destruction caused by climate change. The fund, known as the climate "loss and damage" fund, is set to be launched during the upcoming United Nations COP28 climate summit in Dubai. The EU's contribution, the size of which has not been specified, is expected to help facilitate other deals at the summit, including efforts to phase out fossil fuels and increase renewable energy capacity. The United States has also indicated its intention to contribute to the fund.