"Countries moved a step closer on Saturday to getting a fund off the ground to help poor states damaged by climate disasters, despite reservations from developing nations and the United States.
The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at United Nations climate talks in Egypt last year, overcoming years of resistance from wealthy nations.
But in the past 11 months, governments have struggled to reach consensus on the details of the fund, such as who will pay and where the fund will be located.
A special U.N. committee tasked with implementing the fund met for a fifth time in Abu Dhabi this week - following a deadlock in Egypt last month - to finalise recommendations that will be put to governments when they meet for the annual climate summit COP28 in Dubai in less than four weeks' time. The goal is to get the fund up and running by 2024."
Gloria Dickie and Valerie Volcovici report for Reuters November 4, 2023.
SEE ALSO:
"Stage Set For Conflict At COP28 With Mixed Response To Outcome Of Key Climate Talks" (AP)
"Climate Experts Warn Of Fossil Fuel Tactics At COP28" (AFP)
"Climate Adaptation Funding Gap 50% Higher Than Estimated, UN Says" (Reuters)
"US-China Climate Talks Could Affect Pace, Severity Of Climate Change" (Axios)
"As Climate Disasters Mount, The World Isn’t Spending Nearly Enough To Adapt" (Washington Post)
"Climate Crisis Talks Resume On ‘Loss And Damage’ Funding For Poorest Countries" (Guardian)
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