COP28 President Sultan Al Jaber has lauded Kenya’s President William Ruto for his “unprecedented climate brilliance,” recognizing his efforts to unite the African continent through the inaugural Africa Climate Summit (ACS).
Al Jaber, speaking during the opening day of the climate meeting after the launch of the Loss and Damage (L&D) Fund, revealed that nations collectively contributed an impressive USD 500 million to the fund by the day’s end. The United Arab Emirates (UAE) played a crucial role, pledging a generous $100 million and catalyzing additional support from other nations.
“President William Ruto has demonstrated unparalleled leadership in championing climate action for Africa and the Global South. The Africa Climate Summit earlier this year stands as a testament to his unwavering commitment to environmental stewardship,” remarked Dr. Al Jaber.
COP28 President further commended the USD 500 million contribution on the first day, recognizing it as a significant achievement resulting from persistent efforts by developing nations disproportionately affected by climate change. He acknowledged the culmination of a long-standing commitment from developed and high-emitting countries to provide crucial financial support.
In the context of UN climate talks, the term “loss and damage” refers to the profound and often irreversible consequences of climate change impacting vulnerable communities globally.
At COP27 last year, nations unanimously pledged to establish a loss and damage fund after three decades of advocacy by small island states and developing countries. However, decisions regarding fund allocation, beneficiary identification, and administrative frameworks were deferred to a committee due to stark differences among countries, leading to additional meetings.
Earlier this month, a draft agreement was reached, proposing the World Bank as the fund’s custodian for the next four years. The agreement urged developed countries to make significant contributions while allowing contributions from other nations and private entities.
