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As COP28 Marks Early Success In Loss And Damage, Focus Shifts To Stocktake

 

The COP28 Summit in the UAE has reached a historic deal on paying for climate disasters, marking a significant step forward for countries disproportionately affected by climate-related disasters. The agreement was reached after long negotiations, but some issues remain outstanding, and focus now shifts to other topics. Rachel Cleetus, a lobbyist for the Union of Concerned Scientists, said the deal marked a “great way” to start COP28.

COP28 President Sultan Al Jaber, also the Emirates’ Minister of Industry and Advanced Technology, described the loss and damage deal as a “historic decision” and US negotiator John Kerry called it a “great way to start this COP”. Activists expect rich countries to start pledging money to the fund. The UAE immediately offered $100 million, while the UK put in $75 million. Despite welcoming the “rapid adoption” of the text, the Alliance of Small Island States said the work is far from over.

The stakes are now high for the rest of the Summit as countries discuss how to limit the climate crisis in the first place so that loss and damage is never needed. The first “global stocktake” will begin on Friday, the second day of the event, discussing the international community’s performance in meeting the Paris Agreement goal of slowing global warming to 1.5 degrees Celsius above pre-industrial levels.

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