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The COP-28 summit will formally approve the launch of a “loss and damage” fund to compensate climate-vulnerable countries as world leaders meet in Dubai.
Prime Minister Rishi Sunak will be among those arriving by private jet to the oil-rich United Arab Emirates for the latest climate meeting.
Among the issues to be negotiated will be a commitment by rich countries to provide billions of pounds to poorer nations to help them adapt to climate change.
The establishment of a global fund for “loss and damage” was agreed at the previous COP-27 in Egypt, after tough negotiations.
But there could still be a dispute over how it is financed, with pressures piling on big polluter China and rich Gulf petrostates to pony up money.
The United States has also been keen to emphasize that pledging money to the fund should not represent legal liability for climate issues on the part of developed nations.
The COP-28 summit will formally approve the launch of a “loss and damage” fund to compensate climate-vulnerable countries as world leaders meet in Dubai.
Prime Minister Rishi Sunak will be among those arriving by private jet to the oil-rich United Arab Emirates for the latest climate meeting.
Pictured is a coal-fired power plant in northern China’s Hebei province. Pressure is mounting on China and wealthy Gulf petrostates to pony up cash for a “loss and damage” fund.
Sunak, who recently watered down some of Britain’s Net Zero commitments, is expected to join the United States and the EU in pledging money to the loss and damage fund during his visit to Dubai.
The money will likely come from the £11.6bn the Government has set aside in its ‘International Climate Finance’ fund to spend between 2021 and 2026.
The EU has promised a “substantial” contribution but wants countries whose economies have boomed in recent decades, such as China and the United Arab Emirates, to do the same.
“Everyone who can pay should contribute,” said EU Climate Commissioner Wopke Hoekstra.
He added that he wanted to “expand the donor base beyond the usual suspects, simply because that reflects the reality of 2023.”
Adnan Amin, executive director of COP-28, said the goal of the summit was to secure several hundred million dollars for the fund, adding that he was “hopeful” the United Arab Emirates would make a contribution.
Samoa’s ambassador to Europe, Pa’olelei Luteru, who is also chair of the Association of Small Island States (AOSIS) negotiating bloc, said: “We cannot rest until this fund is adequately funded and begins to truly ease the burden of vulnerable communities”. .’
John Kerry, US climate envoy, said US President Joe Biden’s administration had “worked very hard and actively” to create the fund.
In a call with reporters this week, he reported politicalKerry said: ‘We believe this fund, as designed, will meet the needs of vulnerable countries.
“We have worked hard with our partners to propose ways in which this fund can be put into operation quickly but safely.”
He also emphasized the White House’s view that the United States cannot be held legally responsible for climate issues, following earlier claims that such a fund would amount to “reparations” from historic polluters to developing nations.
“It is important that the fund does not represent any expression of liability or compensation or any new legal requirements,” Mr Kerry added.
“But he will try to be there for those in the developing world who have borne some of the brunt.”
Sunak, King Charles and Lord Cameron will fly separately to Dubai on private planes to attend COP-28.
No 10 yesterday defended the decision for the Prime Minister and Foreign Secretary to fly separately and said ministers and lower-ranking officials would travel on commercial flights.
The Prime Minister’s official spokesman said Lord Cameron “has different travel plans, which is not unusual for a Foreign Secretary”, adding: “The Government’s approach to tackling climate change, as we have repeatedly set out, is not It consists of prohibiting or reducing flying people.
‘This is about investing in new technologies of the future, as demonstrated by yesterday’s flight using sustainable aviation fuel.
“Most ministers traveling to COP can be expected to do so commercially, the Prime Minister’s plane will use sustainable aviation fuel… and obviously we are using carbon offsetting.”
But Liberal Democrat climate spokesperson Wera Hobhouse said: “Sunak and Cameron traveling to this vital summit on separate planes is not only a waste of taxpayers’ money, it sends all the wrong signals about climate commitments.” from United Kingdom”.
‘The UK should play a leading role at COP28 and drive our planet towards a cleaner future.
“Instead, this Government is cutting net zero emissions targets at home while running polluting private flights abroad.”