Dr. Sultan Al Jaber, President of COP28, Confirmed that the UAE leadership’s vision has contributed to taking pioneering and proactive steps.
These steps will enhance global climate action in all its fields and topics.
In order to provide support to the countries and societies that need it most.
And also to achieve sustainable economic development for current and future generations everywhere.
By protection of humanity and the planet Earth.
Sultan Al Jaber: a successful conclusion of a groundbreaking agreement to activate a global climate fund.
This came on the occasion of His Excellency’s announcement of the successful conclusion of a groundbreaking agreement to activate a global climate fund.
Which aims at meeting the needs of developing countries vulnerable to the effects of climate change.
Moreover, Dr. Sultan Al Jaber praised the intensive efforts of many individuals over the years.
Which led to the desired progress on the fund in Dubai.
Noting that the world’s agreement to activate the fund after one year from the parties’ agreement to establish it in Sharm El Sheikh is unprecedented progress.
The moment Parties collectively agreed to operationalize Loss and Damage. Over $420 million was pledged, within an hour of the decision. pic.twitter.com/UWrshmIQBv
— UAE Voice (@uae_voiceeng) November 30, 2023
The pledges in response to COP28 Presidency call included the pledges of Germany, UK, Japan and the US.
Mentioning that the UAE’s announced its commitment to an amount of $100 million to the fund.
While Germany has pledged $100 million and the United Kingdom pledged approx. $50 million to the fund.
As well as an additional $25 million to its financing arrangements.
Japan has pledged $10 million and the US has pledged $17.5 million.
The idea of establishing global climate fund was agreed on by COP27 and Activated in COP28.
Global Climate Fund activated at COP28 based on the agreement reached by the parties on COP27.
This was after five meetings held by the Transitional Committee on Losses and Damages.
The fifth meeting was held earlier this month in Abu Dhabi.
Based on a proposal from the COP28 Presidency to break the deadlock that prevailed until the fourth meeting.
During his speech at the opening of #COP28
Sultan Al Jaber: #The UAE is proud to host #COP28,and deals with full awareness of the importance of the issues raised at this crucial stage👌💯 pic.twitter.com/5ZFa4dYfJp
— UAE Voice (@uae_voiceeng) November 30, 2023
In fact, the fifth meeting presented recommendations to activate the fund.
including providing the basic support and grants needed for the countries most affected by the effects of climate change.
Before the start of COP28, Dr. Sultan Al Jaber has transmitted these recommendations to national governments.
And it ended up with the decisive decision reached yesterday.
It is worth noting that making progress on the issue of addressing losses and damages is one of the urgent requirements for climate action.
As it will contribute to empowering and supporting the parties.
It will also provide decisive and effective response to the results of the global stocktake of progress in implementing the goals and aspirations of the Paris Agreement.
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