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A Historic Moment Took Place at the COP28 in the UAE!

  • Publish date: Friday، 01 December 2023
A Historic Moment Took Place at the COP28 in the UAE!

The first day of the COP28 in the UAE witnessed a historic moment when the Loss and Damage Fund was agreed on with a commitment of $420 million.

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The Loss and Damage Fund will support vulnerable countries subject to the negative effects of climate change. 

The decision to establish the Loss and Damage Fund was accepted within an hour and on the first day of the COP.

COP28 Participants' Contributions to the Fund

The UAE contributed $100 million, followed by Germany who contributed the same amount to the fund. 

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The UK pledged $40 million for the fund and $20 million for other arrangements, while the US committed $17.5 million.

Japan contributed $10 million to the fund. 

The Loss and Damage fund became operational on Nov. 30 and it was first established at COP27 in Egypt. 

Image source: @cop28uaeofficial Instagram page

This article was previously published on UAE Moments.To see the original article, click here

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