"COP28 Triumphs with Climate Disaster Fund Win"
The U.N. climate summit, COP28, has achieved an early victory by adopting a new fund to assist poor nations in dealing with costly climate disasters. Several countries, including the United Arab Emirates, Britain, the United States, Japan, and the European Union, have already announced contributions to the fund. This breakthrough could pave the way for further compromises during the two-week summit. However, concerns remain about the long-term sustainability of the fund and unresolved issues regarding its financing. COP28 President Sultan Ahmed al-Jaber called for collaboration between countries and fossil fuel companies to meet global climate goals, including the phase-out of CO2-emitting coal, oil, and gas.