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COP28 to implement 'Loss and Damage Fund' to compensate most climate-affected countries

Variety and Tech

30-11-2023 | 08:44

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COP28 to implement 'Loss and Damage Fund' to compensate most climate-affected countries

On its first day in Dubai, the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) adopted a decision to implement the establishment of the "Loss and Damage" climate fund to compensate the countries most affected by climate change.

This positive step aims to ease tensions related to financing between northern and southern countries.

After the decision to "activate" the fund, approved in COP27, the Emirati COP28 President, Sultan Al Jaber, stated, "I congratulate the parties on this historic decision. It sends a positive momentum signal to the world and to our work."

AFP

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