2023-12-01 00:21:34
Matt McGrathEnvironment Correspondent, Dubai
November 30, 2023
Credit, Getty Images
Photo caption,
Vulnerable nations like Sudan will benefit from the new fund
COP28 President Sultan al-Jaber announced the decision to the plenary on the first day of the summit.
The European Union, the United Kingdom, the United States and other actors immediately announced contributions totaling around US$400 million (R$1.97 billion) for poor countries suffering from the impacts of climate change.
The agreement is expected to provide the momentum for an ambitious and broader agreement at the United Nations climate summit.
António Guterres said that 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”.
Losses and damages
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Photo caption,
Floods caused destruction in Uganda at the beginning of the year
Floods caused destruction in Uganda at the beginning of the year
Three decades after the idea was first debated, the “loss and damage” agreement was met with prolonged applause on the conference floor.
The initiative was seen as a smart move by the United Arab Emirates, which was criticized in the run-up to COP28 after the BBC reported that leaked documents revealed the country’s plans to discuss fossil fuel deals with 15 nations.
“It’s a very clever way to open the conference,” said Professor Michael Jacobs, from the University of Sheffield and observer of these talks.
“They managed, in the very first session, (to agree) on one of the most important parts of this entire conference, a very controversial part, the United States was not satisfied a few weeks ago with the text on this loss and damage fund and agreed to it today.”
Loss and damage refers to the impacts that many countries suffer due to climate-related meteorological events.
While funding has been provided to help countries adapt to rising temperatures and to aid their efforts to control their emissions, no money has been made available to help with the destruction caused by storms and droughts.
The idea of seeking money to deal with these losses was first introduced in the 1990s.
Since then, richer countries have fought tooth and nail against the idea, fearful of having to pay “compensation” for historic carbon emissions.
Credit, UN CLIMATE CHANGE/KIARA WORTH
Photo caption,
Sultan al-Jaber announced fund on the first day of COP28
Sultan al-Jaber announced fund on the first day of COP28
Last year, at COP27, held in Egypt, the moral force of the argument won, and the countries agreed to create a fund.
Over the past 12 months, countries have argued over the rules, where the fund should be located and who should pay.
A tentative agreement was reached a few weeks before this year’s meeting in Dubai.
Any such agreement would normally have to be accepted by all countries in a plenary session, where negotiators can analyze the text with a fine-toothed comb, often leading to important debates.
This usually happens at the end of a COP, after days and nights of disputes.
“Today, we made history,” al-Jaber told delegates as the motion passed without controversy.
Immediately, the United Arab Emirates promised US$100 million (R$492.3 million), as did Germany.
The United States said it will provide US$17 million (R$83.7 million), as long as it manages to reach an agreement in Congress.
The message sent by Americans is that this money does not mean they accept that the fund is intended for reparations for historic emissions.
“We have been working hard 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 United States Special Envoy for Climate John Kerry.
The United Kingdom pledged 60 million pounds (R$373.1 million) to the fund. Activists said it was a small step in the right direction.
“It is encouraging to see that the UK government is committed to making the Loss and Damage Fund a reality, but this commitment is simply not enough and, crucially, it is not new money,” said Chiara Liguori, Senior Justice Policy Advisor Oxfam Climate.
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