The 28th United Nations Conference on Climate Change (COP28) has started with a historic announcement.
Even before the arrival of international leaders, an agreement has been reached to activate the fund dedicated to the most vulnerable nations.
This fund aims to support countries that have contributed less to the climate crisis but are suffering its consequences more dramatically.
Commitments
The rules for its operation include interim management by the World Bank for the next four years.
The financial commitments announced include significant contributions from developed nations: Germany commits with $100 million, the United Kingdom with £60 million, and the United States with $17.5 million.
Fossil Fuels
On the first day of work, COP28 President Sultan Ahmed Al Jabber emphasized the importance of including the role of fossil fuels in the debate.
This call comes from the state-owned oil company led by the conference president himself, indicating the willingness to involve key actors in the fight against climate change.
Arrival of Leaders
With the arrival of leaders and heads of state, attention is focused on the next moves and speeches that will take place in the coming days.
The conference opens with a climate alert issued by the World Meteorological Organization, predicting 2023 as the hottest year ever recorded.
COP28 is shaping up to be a crucial stage for outlining strategies and binding agreements in the fight against climate change, as the world looks to Dubai for crucial decisions regarding the future of the planet.