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BENGALURU, India -- Tense negotiations at the final meeting on a climate-related loss and damages fund -- an international fund to help poor countries hit hard by a warming planet -- ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily host the fund for the next four years.
Wealthy countries are ‘urged’ to pay, while others are ‘encouraged’ to contribute.
Tense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday
Final talks over the weekend to agree a proposal for a new climate disaster fund averted a deadlock ahead of the U.N.'s COP28 climate summit later this month, but cracked open tough new questions... -November 06, 2023 at 10:32 am EST - MarketScreener
A U.S. push for voluntary payments in high-stakes negotiations over a global fund for climate disasters has raised tensions ahead of the upcoming COP28 climate summit