2023-12-01 02:31:42
Matt McGrathBBC News, Environment Correspondent, Dubai
9 hours
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Caption,
Vulnerable nations like Sudan will receive the funds
In a surprise that has illuminated COP28, delegates agreed to start a long-awaited fund to pay for damage caused by storms and droughts caused by climate change.
These deals are typically sealed at the last minute after days of negotiations.
COP28 President Sultan al Jaber shook up the meeting by bringing the decision to plenary on the first day.
The European Union, the United Kingdom, the United States and others announced immediate contributions totaling around $400 million for the least resourced countries suffering the impacts of climate change.
The agreement is expected to provide the impetus for a more ambitious and broader commitment to be reached during the summit, one that will lead to greater action.
A “smart” ad
image copyrightUN Climate Change/Kiara Worth
Caption,
Sultan al Jaber used his first day at the helm of COP28 to boost the loss and damage fund.
The stakes couldn’t be higher: The day began with stark warnings from the UN chief that “we are experiencing climate breakdown in real time.”
António Guterres said the news that it is “virtually certain” that 2023 will be the hottest year on record should “send shivers down the spines of world leaders.”
Three decades after the idea was first mooted, the “loss and damage” cash settlement was greeted with prolonged applause at the conference.
The announcement was seen as “smart” by the United Arab Emirates, which was criticized in the run-up to COP28, after the BBC reported on Monday about leaked documents revealing plans by the Arab country to discuss fossil fuel deals with at least 15 nations.
“It’s a very clever way for the United Arab Emirates to open the conference,” said Professor Michael Jacobs of the University of Sheffield and an observer of these talks.
“In the first session, one of the most important parts of this entire conference was agreed, a very controversial part. The US was not happy just a few weeks ago with the text on this loss and damage fund, and accepted it this Thursday”.
Loss and damage refers to the impacts that many countries suffer due to climate-related weather events.
While funding has been provided to help countries adapt to rising temperatures and support their efforts to control their emissions, no money has so far been received to help with the destruction caused by storms and droughts.
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The idea of a fund to cover these losses was first introduced in the 1990s.
For decades, richer countries fought tooth and nail against the idea of such a fund, fearful of having to pay “offset” for their historic carbon emissions.
Last year, at COP27 in Egypt, the moral force of the argument triumphed and countries finally agreed to its creation.
The last 12 months have been spent arguing over the rules, where the fund should be located and who should pay.
A provisional agreement was reached a few weeks before the meeting in Dubai.
Any such agreement would normally have to be accepted by all countries in a plenary session, where negotiators can carefully review the text, often leading to important discussions.
This usually happens at the end of a COP, after days and nights of disputes.
“Today we made history,” Jaber told delegates when the motion passed without a fight.
Immediately, the United Arab Emirates pledged US$100 million, as did Germany.
The US says it will pay US$17 million, provided it can reach an agreement in its Congress. It was emphasized that all countries know that paying does not mean accepting that the fund is for reparations for historical emissions.
“We have been working very, very closely with other members of the transition committee throughout this year to design an effective fund that is based on cooperation and does not involve liability or compensation,” said the US special envoy for climate. , John Kerry.
The United Kingdom pledged 60 million pounds (about $76 million) to the fund. Activists said it was a small step in the right direction.
“It is encouraging to see that the UK Government has committed to making the Loss and Damage Fund a reality, but this commitment alone is not enough and, more importantly, it is not new money,” said Chiara Liguori, senior adviser Oxfam’s climate justice policy team.
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