Abu Dhabi (d.de) – Shortly before the start of COP28 at the beginning of December in Dubai, there has been a breakthrough in preliminary negotiations regarding the so-called “Loss and Damage Fund”. The agreement to create a support fund for developing countries particularly hard hit by climate change was celebrated as a historic success at COP27 in Egypt last year. “The support fund is going to happen. Preliminary negotiations were concluded yesterday,” said Jochen Flasbarth, Secretary of State at the Federal Ministry for Economic Cooperation and Development, in a post on X today.
A special UN committee tasked with implementing the fund met for the fifth time this week in Abu Dhabi to finalise recommendations to be presented to governments at COP28. The aim is to put the fund into operation by 2024.
The fund for climate-related damage and loss is a step forward in achieving global climate justice. The fund aims to support developing countries that are particularly hard hit by climate change in coping with the consequences of global warming.
Jennifer Morgan, Secretary of State and Special Envoy for International Climate Action, stated in a post on X that Germany “is ready to fulfil its responsibilities – we are actively working to contribute to the new fund and explore options for structural funding sources”. With regard to COP28, Morgan called for “decisions to be made that will help us halve emissions by 2030 so as to prevent even worse impacts”.