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Any eventual agreement on a fossil fuel phase-out at the COP28 climate summit in Dubai must take into account "different national circumstances", South Africa's environment minister Barbara Creecy told AFP. Creecy has been appointed by the Emirati presidency to facilitate discussions on how countries are making progress on meeting their Paris Agreement climate goals.Q: Does the world need to agree on the phase-out of all fossil fuels at this COP28? 

Her comments come in the backdrop of the European Union's announcement to impose carbon tax on imports from certain sectors

Hosts the United Arab Emirates said more than $83 billion had been mobilised during the first five days of the event. The biggest single deal of COP28 saw hosts the United Arab Emirates pledge $30 billion to a new fund to invest in climate friendly projects across the globe, with $5 billion for the Global South. The World Bank said it aims to increase climate funding to 45% of its total lending, which equates to an increase of $9 billion annually.

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Eversource, a climate investment joint venture between Everstone Group and Lightsource BP, has received catalytic concessional capital from the U.S. Department of State and USAID through the Blended Finance for Energy Transition (BFET) program.