COP28 approves the launch of the loss and damage climate fund for vulnerable countries

Delegates at the COP28 UN climate summit in Dubai have agreed to launch a fund to pay for damage and loss caused by storms and droughts caused by climate change.

COP28 President Sultan al-Jaber raised eyebrows at the meeting by bringing the decision to plenary on the first day.

The European Union, the United Kingdom, the United States and other countries announced immediate contributions totaling around $400 million for countries with fewer resources suffering from the impacts of climate change. Still, climate change organizations said that amount is totally insufficient to cover the costs of the havoc wreaked worldwide by climate change, which some sources put at $400 billion.

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