the implementation of the fund on “loss and damage” of vulnerable countries adopted

Developed countries, however, refused to make their contributions obligatory rather than voluntary.

The implementation of the fund intended to finance climate “loss and damage” in vulnerable countries was adopted on Thursday, November 30, on the first day of COP28 in Dubai (United Arab Emirates). This historic decision, greeted by a standing ovation from delegates from nearly 200 participating countries, concretizes the main result of COP27 in 2022 in Egypt, during which this fund was approved in principle, but whose outlines had not been not yet been defined. “Rich countries must now announce significant contributions”added Friederike Röder, of the NGO Global Citizen, arguing for new international taxes.

“I congratulate the parties on this historic decision. It is a positive signal for the world and for our work”declared Sultan al-Jaber, the Emirati president of this COP. “We made history today… The speed with which we did it is unprecedented, phenomenal and historic”. Madeleine Diouf Sarr, president of the group of Least Developed Countries, which represents 46 of the poorest nations, welcomed a decision by a “huge significance for climate justice”. “But an empty fund cannot help our citizens”she emphasized.

For their part, developed countries, led by the United States, have in fact refused to allow their contributions to be obligatory rather than voluntary and are calling for an expansion of the donor base to rich emerging countries, such as Saudi Arabia or China. “There is no obligation to contribute to the Fund for the historically highest emitting countries, nor any financial target to be achieved. We urge States, and in particular Emmanuel Macron, during the Leaders’ Summit which will be held tomorrow and Saturday, to make significant financial commitments!”calls Gaïa Febvre, head of international policies at the Climate Action Network.