Global climate negotiators reached a framework for a fund to help vulnerable nations deal with loss and damage from increasingly extreme weather, though the breakthrough was marred by sparring over exactly how the program would be funded.
Delegates meeting in Abu Dhabi agreed late Saturday that the World Bank will host a new Loss and Damage Fund on an interim basis for four years — breaking an impasse after months of negotiations. They also set basic guideposts for funding, with developed countries urged to provide support. The discussion next heads to the COP28 climate summit, which starts in Dubai later this month.
"Billions of people, lives and livelihoods who are vulnerable to the effects of climate change depend upon the adoption of this recommended approach,” said Sultan Al Jaber, the president-designate of COP28. The document is "clear and strong” and "paves the way for agreement,” he said.