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COP28 Approaches, Climate Loss and Damage Fund Agreement Difficult to Reach

ABU DHABI – Nearly 200 countries are set to take part in the COP28 climate talks in Dubai next month, but there is still no agreement on the creation of a loss and damage fund to help poor countries affected by climate change.

Some 70 ministers took part in preparatory talks in Abu Dhabi this week, but the talks failed to achieve any major breakthroughs. The main focus of the talks was the loss and damage fund, but there were also disagreements over the inclusion of language on fossil fuels and renewable energy in the negotiating text.

COP28 Approaches, Climate Loss and Damage Fund Agreement Difficult to Reach

COP28 President Sultan Al Jaber said countries needed to find “common ground” on these issues and that there was “no time for further delay.” He did not, however, repeat his own earlier statement that “phasing down fossil fuels is inevitable.”

The failure to agree on a loss and damage fund was a major setback for developing countries, which have been calling for its establishment for years. The fund was seen as a way to address the growing costs of climate change, which are borne disproportionately by the poorest countries.

The failure to agree on the loss and damage fund also undermined the credibility of the Conference of the Parties process. The Conference of the Parties talks are supposed to be a forum where countries come together to agree on concrete actions to address climate change. However, the lack of progress on key issues such as the loss and damage fund raises questions about the continued effectiveness of the Conference of the Parties process.

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