COP28: Striking a Crucial Global Climate Deal
Countries are expected to reach an agreement on the creation of an international fund to assist communities affected by climate-related disasters at the COP28 climate summit in Dubai. The draft agreement, which includes a provision for voluntary contributions, is likely to be adopted on the opening day of the summit. However, the amount of funding and its source are still undecided. The agreement would remove a contentious issue from the conference agenda and allow delegates to focus on addressing the root cause of climate change. The United States, previously opposed to financial redress for climate damage, has expressed support for the fund. The focus now shifts to raising the necessary funds, with small island nations calling for at least $100 billion over the first four years of operation.