Ruto praised for climate 'brilliance' as global meeting kicks off in Dubai
COP28 president Sultan Ahmed Al Jaber sepaks during the opening ceremony of the COP28 United Nations climate summit in Dubai on November 30, 2023.
In Dubai, UAE
COP28 President Sultan Al Jaber has praised Kenya's President William Ruto for his "unprecedented climate brilliance" in bringing Africa together for the inaugural Africa Climate Summit (ACS), which he said set the stage for this year's world's biggest climate gathering (COP28).
Speaking on the first day of the climate meet following the launch of the Loss and Damage (L&D) Fund, which saw the United Arab Emirates (UAE) pledge $100 million to the kitty, paving the way for other nations to contribute if they had not already pledged to do so, Dr Al Jaber revealed that by the end of the first day, nations had pumped $500 million into the L&D fund.
"The unprecedented climate action brilliance of Kenya's President William Ruto in launching the Africa Climate Summit (ACS) earlier this year and as a champion of climate action for Africa and the Global South has contributed immensely to setting the stage for COP28," said Dr Al Jaber.
The COP28 President added that the $500 million contribution on the first day of COP28 is a welcome achievement and marks the culmination of persistent efforts by developing countries burdened by the negative impacts of climate change to secure financial support from developed and high-emitting countries.
At the UN climate talks, "loss and damage" encapsulates the profound and often irreversible impacts of climate change that are already manifesting globally, with a heightened impact on vulnerable communities.
At last year's COP27, participating countries unanimously committed to establishing a loss and damage fund, marking the culmination of three decades of efforts by small island states and developing countries.
However, even after the agreement was reached, decisions on the allocation of funds, beneficiaries and administration were deferred to a committee due to strong differences between countries, necessitating additional meetings to address these issues.
A draft agreement was first reached earlier this month, and a revised version was released just a day ago. The draft proposed the World Bank as the host of the fund for the next four years and called on developed countries to contribute, while allowing contributions from other countries and private entities.
But Anivash Persaud, developing country negotiator and special climate envoy to Barbados Prime Minister Mia Mottley, says it will be up to the World Bank to decide whether it is satisfied with the terms.
"We are hearing that they are interested. The World Bank is a well-established institution and there are conditions that have to be met. We have heard good news today; the fund has been approved and 500 million US dollars have been injected. This fund is not about reducing greenhouse gas emissions. It's not about being stronger and more resilient, it's for when a crisis happens," he offers.
To make the fund operational, the UAE and Germany have each pledged $100m (£79m) to address the financial impact of extreme weather events and gradual disasters such as sea level rise, ocean acidification and melting glaciers.
The agreement will also receive a crucial initial cash injection of nearly $300 million, with contributions including £60 million from the UK, $24.5 million from the US and $10 million from Japan.
In particular, the lack of explicit details in the Loss and Damage Resolution on the scale and replenishment cycle has raised concerns among climate justice advocates about the long-term sustainability of the fund.
Mohamed Adow, founder and director of Powershift Africa, a climate think tank, says the fund is timely.
"It's great to see the Loss and Damage Fund being established. At the start of COP27 in Egypt last year, many people said it wouldn't even be agreed, let alone established, within 12 months. This just shows how quickly this UN process can move when countries work together.
"Although rules have been agreed on how the fund will operate, there are no hard deadlines, no targets and no obligation for countries to pay into it, even though the whole point is for rich, high-polluting nations to support vulnerable communities suffering from climate impacts," he says.
Harjeet Singh, head of global policy strategy at Climate Action Network International, adds that the fund must address critical concerns.
"In the midst of the historic decision to make the Loss and Damage Fund operational within a year of its establishment, it is critical to address the underlying concerns. On the one hand, rich countries have pushed for the World Bank to host this fund under the guise of ensuring a rapid response. Conversely, they have sought to dilute their financial commitments and have resisted setting a clear scale for mobilising finance.
"The lack of a defined replenishment cycle raises serious questions about the long-term sustainability of the fund. A robust system, especially one that is integrated with the Global Stocktake process and the new climate finance target, is therefore needed to ensure that COP28 delivers a meaningful outcome.
"The onus is now on wealthy nations to meet their financial obligations in a way that is commensurate with their role in the climate crisis, which has been caused primarily by decades of unchecked fossil fuel consumption and a lack of adequate climate finance for the Global South," she says.
Despite its shortcomings, the adoption of the landmark decision to operationalise the Loss and Damage Fund on the first day of COP28 is very welcome. We hope that the Fund will not be an empty shell and call on developed countries to take the lead in making the Loss and Damage Fund a reality by taking the lead in contributing to the Fund by announcing significant pledges here at COP28. We commend the move by the UAE to pledge $100 million to the fund, followed by several wealthy nations, and hope that these pledges will not just be empty promises.
While these funds are important to kick-start the activities of the Loss and Damage Fund, it is worth noting that they are a drop in the ocean compared to the amount of financial resources needed to address loss and damage in developing countries - which runs into hundreds of billions of dollars annually.
We therefore call on rich countries to fulfil their commitments by urgently providing more predictable, grant-based, new and additional funding that is easily accessible to support communities on the frontlines of the climate crisis," said Obed Koringo, Climate Policy Advisor, CARE International.
While Loss and Damage does not fall within the Bank's remit, its history of burdening loans to African countries raises serious doubts about its ability to manage the fund effectively.
In addition, the control exercised by the United States, which opposes Loss and further jeopardises the integrity of the fund. We insist on a more neutral and accountable body, close to the close to communities experiencing the vagaries of climate-related disasters to oversee the Loss and Damage Fund.
Furthermore, PACJA (Pan African Climate Justice Alliance) asserts that funding for loss and damage cannot be voluntary, and therefore developed countries must commit to ensuring adequate funding for this facility.
