The United States and several developing countries expressed disappointment in the draft agreement, which will be sent for global leaders to sign at the COP28 climate conference, which begins in Dubai later this month
A villager holding umbrella to protect himself from sun, walks over parched land on the outskirts of Bhubaneswar, India on May 2, 2009.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.The U.S.
Avinash Persaud, a special envoy to Barbados Prime Minister Mia Mottley on climate finance, said the agreement was “a challenging but critical outcome. It was one of those things where success can be measured in the equality of discomfort.” Persaud negotiated on behalf of Latin America and the Caribbean in the meetings.
Since then, a smaller group of negotiators representing both rich and developing countries have met multiple times to finalize the details of the fund. Their last meeting in the city of Aswan in Egypt in November ended in a stalemate. The meetings delivered on that mandate but were “the furthest thing imaginable from a success,” said Brandon Wu of ActionAid USA who has followed the talks over the last year. Wu said the fund “requires almost nothing of developed countries. … At the same time, it meets very few of the priorities of developing countries – the very countries, need it be said again, that are supposed to benefit from this fund.
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