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COP28 latest: Loss and damage fund to help climate victims agreed on day 1 of UN summit in Dubai

The venue for the COP28 UN Climate Summit with the Al Wasl Dome in the background at Expo City, Nov. 29, 2023, in Dubai, United Arab Emirates.
The venue for the COP28 UN Climate Summit with the Al Wasl Dome in the background at Expo City, Nov. 29, 2023, in Dubai, United Arab Emirates. Copyright  AP Photo/Joshua A. Bickel, File
Copyright AP Photo/Joshua A. Bickel, File
By Lottie Limb & Rosie Frost with AFP
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Countries have reached an agreement on setting up a loss and damage fund, which the UAE immediately pledged $100 million to.

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Welcome to our live coverage of COP28. The Euronews Green team is arriving in Dubai today, ready to bring you the latest from the UN climate summit.

Today we'll be sharing what's being said before the conference programme kicks off tomorrow.

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Focus turns to fossil fuels after loss and damage fund agreed


With the loss and damage fund approved, climate campaigners’ focus now rests more squarely on fossil fuels - and the crucial debate over a phase out or phase down.


You can read our explainer on the battle lines over fossil fuels, drawn well before the start of the summit, here: Phase out or phase down? Fight over fossil fuels heats up in run-up to COP28.


Climate activists attend a rally to end fossil fuels in New York. Credit: AP/Bryan Woolston

“A key issue to be addressed head on at this COP is that it delivers an outcome that deals with the need to justly and equitably phase out fossil fuels,” says Tasneem Essop, Executive Director of Climate Action Network. “We have had a record breaking year of global climate impacts and a number of alarming reports telling us that we are going in the wrong direction.”


Speaking earlier today during the launch of the World Meteorological Organization's State of Climate report, UN Secretary General Antonio Guterres again urged leaders to take action on this core issue.


“Record global heating should send shivers down the spines of world leaders,” he said. They should commit “to phase out fossil fuels, with a clear time frame aligned to the 1.5-degree limit.”


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What does civil society make of the loss and damage news?


COP28 has quickly passed its first major milestone: launching the loss and damage fund. With the negotiations agenda for the rest of the fortnight also agreed, it's been a smooth start so far.


Civil society groups have welcomed the progress, but argue that rich countries should contribute more. Harjeet Singh, Head of Global Political Strategy at Climate Action Network International says:


In a commendable move, the host of the COP28 climate conference pledged USD 100 million to the Loss and Damage Fund, followed by several affluent nations announcing their financial support. While these funds are valuable in initiating the Fund's activities, it is important to recognise that the costs of rebuilding from the devastating effects of climate disasters run into hundreds of billions of dollars annually. Rich countries, given their significantly higher historical responsibility, must do more on a scale commensurate with their impact on planet-heating emissions.





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UAE, Germany and UK announce million dollar pledges for loss and damage fund

Hot off the heels of the loss and damage funding arrangement being agreed, COP28 hosts UAE have pledged $100 million (around €91.5m) to the new fund for victims of the climate crisis.



Other pledges are rolling in. Germany has also announced it will put $100m into the loss and damage pot, and the UK has promised $60m, comprised of $40 for the fund and $20m for funding arrangements.


The US has announced $17.5m for the loss and damage fund, while Japan is contributing $10m.


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Loss and damage funding arrangement agreed

Countries have agreed to set the loss and damage fund in motion; a major breakthrough from COP27 that will see poorer countries effectively compensated for the impacts of climate breakdown.


Negotiators adopted the recommendations from the Loss and Damage Transitional Committee, which met throughout the year to figure out how the fund will work in practice.


In reaction, Ani Dasgupta, President and CEO of the World Resources Institute, says:


“The loss and damage fund will be a lifeline to people in their darkest hour, enabling families to rebuild their homes after disaster strikes, support farmers when their crops are wiped out and relocate those that become permanently displaced by rising seas. This outcome was hard-fought but is a clear step forward. 



“The success of this fund will depend on the speed and scale at which funds start flowing to people in need. We call on world leaders to announce substantial contributions at COP28 - not only to cover start-up costs but also to fill the fund itself. People in vulnerable countries will face up to $580 billion in climate-related damages in 2030 and this number will only continue to grow.


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Climate activists report visa issues at Kenyan airport

As delegates make their way to Dubai, some young climate activists say they have been prevented from travelling due to visa problems.


In a post on X, the Rise Up Movement’s Tanzania group say that Kenyan immigration has blocked some of their members from flying, reportedly because their COP visas are ‘invalid’.



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Big meat has a big lobbying plan at COP, investigation reveals

Big oil isn’t the only industry creating a furore at the start of COP28. Big meat companies and lobby groups have been assembling a large presence at the summit, a Desmog investigation has found. 


Documents seen by the investigative outlet and UK newspaper the Guardian reveal that the meat industry has a concerted communications plan to influence policymakers. 


This includes presenting meat as “sustainable nutrition”, according to the documents produced by the industry-funded Global Meat Alliance (GMA).


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US Vice President Kamala Harris will be attending the summit

There have been a few updates to the VIP list at COP28 in recent days. While US President Biden has confirmed he won’t be attending the conference this year, Vice President Kamala Harris will soon join the US delegation in Dubai.


Harris' participation will be brief, and she's scheduled to leave Washington on Friday and return Sunday. She's expected to speak publicly on Saturday, AP reports.


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Sultan Al Jaber officially opens COP28 


Sultan Al Jaber has officially opened the 28th conference of parties (COP) climate summit in Dubai, after being handed a tiny hammer which marks the start of his presidency. 


In his first remarks at the opening ceremony, Al Jaber called on parties to deliver on the promise of a new loss and damage fund for countries struck by climate disasters.


He also noted the importance of decarbonising the energy system, stating: “Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies. We had many discussions. Let me tell you, it wasn’t easy.


"But now, many of these companies are committing to zeroing out methane emissions by 2030 for the first time. And many national oil companies have adopted net zero 2050 targets for the first time.”


After allegations that Al Jaber - who is also the chief executive of Adnoc - used the climate talks to pursue oil and gas deals, his language on fossil fuels will continue to be closely watched. 


COP28 President Sultan Al Jaber speaks during the summit's opening session. Credit: AP/Peter Dejong


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UN Secretary General: COP28 must aim for a complete 'phaseout' of fossil fuels

UN Secretary General Antonio Guterres has said that COP28 should aim for a complete "phaseout" of fossil fuels. "I think it would be a pity if we would stay in a vague and noncommittal 'phase-down' whose real meaning would not be obvious for anybody," he told AFP before he boarded his flight to Dubai. 


"We have the potential, the technologies and the capacity and the money - because the money is available, its a question of making sure it goes in the right direction - to do what is necessary, not only to keep the 1.5C alive, but alive and well." 


"The only thing that is still lacking is political will."



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Good morning and welcome to our coverage of the first day of COP28 For the next two weeks, we'll be bringing you live coverage of the UN climate conference.

Today we'll see the opening ceremony and world leaders start arriving in Dubai. Notable absences include US President Joe Biden and China's Xi Jinping. 

So what is COP28? COP stands for Conference of the Parties and, as the name suggests, this is the 28th iteration of the UN Climate Conference of the Parties. 


The annual conferences bring together those who signed the United Nations Framework Convention on Climate Change (UNFCCC) - an international environmental treaty addressing climate change - 30 years ago.


Want to know more? Read our guide to COP28. 
 




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