COP28: Delegates agree on loss and damage funds

By Samuel Ogunsona reporting from Dubai

Delegates at the United Nations Conference on Climate Change have in Dubai made a breakthrough deal on loss and damage funds that would help compensate vulnerable countries affected by climate change.

The meeting on Thursday was seen as a major breakthrough on the first day of this year’s UN climate conference.

The United Nations Climate Change Executive Secretary, Simon Stiell, noted that a proper fund of this transition will aid quick response to loss and damage caused by climate change.

He said, “Today’s news on loss and damage gives this UN climate conference a running start. All governments and negotiators must use this momentum to deliver ambitious outcomes here in Dubai,”

Simon who welcomes the agreement to Operationalize the fund called on world leaders to support the fund and get COP28 off to a strong start.

Simon at his opening remark said this has been the hottest year ever for humanity because of many terrifying records that has been broken.
He said, “We find ourselves in a rather different position, in humanity’s climate action journey.

“We are taking baby steps. Stepping far too slowly from an unstable world that lacks resilience, to working out the best responses to the complex impacts we are facing”

“We must teach climate action to run. Because this has been the hottest year ever for humanity”

“So many terrifying records were broken. We are paying with people’s lives and livelihoods” He added.

However, The fund has been a long-standing demand of developing nations on the frontlines of climate change coping with the cost of the devastation caused by ever-increasing extreme weather events such as drought, floods, and rising seas.