Cookie Control

This site uses cookies to store information on your computer.

Some cookies on this site are essential, and the site won't work as expected without them. These cookies are set when you submit a form, login or interact with the site by doing something that goes beyond clicking on simple links.

We also use some non-essential cookies to anonymously track visitors or enhance your experience of the site. If you're not happy with this, we won't set these cookies but some nice features of the site may be unavailable.

By using our site you accept the terms of our Privacy Policy.

(One cookie will be set to store your preference)
(Ticking this sets a cookie to hide this popup if you then hit close. This will not store any personal information)

"New Global Climate 'Loss And Damage' Fund Names First Director"

"WASHINGTON - The board of The Fund for Responding to Loss and Damage to help countries ravaged by climate-driven disasters named Senegalese finance specialist Ibrahima Cheikh Diong as its first director, the UN Framework Convention on Climate Change announced on Saturday.

The selection of Diong, a dual U.S. citizen, marks a major milestone in the operationalization of the new World Bank-administered fund, whose creation in 2022 was a breakthrough for developing country negotiators at United Nations climate talks, overcoming years of resistance from wealthy nations.

Now with the Philippines recently selected as the home of the fund and Diong appointed as director, the fund can begin turning the $800 million pledged to it at last year's COP28 climate summit in Dubai into "tangible funding ready for disbursement," according to the presidency of the next round of climate talks starting in November in Baku, Azerbaijan, known as COP29. COP29's president will call on countries to contribute more money."

Valerie Volcovici reports for Reuters September 21, 2024.

Source: Reuters, 09/23/2024