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THE FIRST PLEDGES to a new Loss and Damage Fund freshly agreed at COP28 have been announced as countries reached a long-awaited agreement.
COP28, a UN climate conference bringing together countries to make decisions on climate action that could make or break the world’s chances of keeping temperatures within manageable levels, opened in Dubai this afternoon.
One of the first decisions to emerge is the adoption of an agreement on the new fund, which will be used to help vulnerable countries recover from losses and damages caused by climate change.
The United Arab Emirates, the host of this year’s conference, pledged $100 million, with Germany also pledging $100 million.
Taoiseach Leo Varadkar has said that he will announce a contribution from Ireland this weekend.
“Agreement to proceed with the Loss and Damage fund is an important step to help the countries which are suffering most from climate change, but which have the greatest difficulty getting access to the finance and resources they need to manage it,” he said.
The Taoiseach landed in the UAE today and is due to attend COP28 tomorrow along with around 160 other world leaders, who will be delivering national statements to the conference tomorrow and on Saturday.
The agreement on the new fund has been welcomed by campaigners but with disappointment at some key aspects of how the fund will operate.
Ross Fitzpatrick, Christian Aid Ireland’s Policy and Advocacy officer, said that the “hard-fought for agreement on a Loss and Damage Fund is an important and welcome step, but there is still huge work to be done to ensure it’s adequately resourced and effective”.
“The final text agreed at COP28 leaves a lot open. The fund is voluntary with no clear obligation to pay, no specific targets on the amount of finance required, and no clear deadlines,” he said.
It does not make explicit reference to the historical responsibility of the wealthiest, high-polluting countries to take the lead on providing finance, which has long been a key principle of climate justice.
He added the “crucial test” for the fund will be “whether wealthy, high-polluting countries, including Ireland, take the lead with significant financial pledges to fill it, instead of just repackaging existing commitments, and whether key promises around access and oversight are met”.
Siobhan Curran, Trócaire’s Head of Policy and Advocacy, said the charity is “highly sceptical of the World Bank as an interim host”.
“It will be crucial that the fund operates in a way that is accessible to communities who need it in a timely manner,” Curran said.
She said the fund must deliver for communities facing the worst impacts of climate change, pointing to Somalia, which experienced its worst drought in 40 years and is now facing excessive rainfall and flooding, swinging from one extreme to another.
It is estimated that Ireland produces nearly 54 times higher emissions than Somalia, yet communities in Somalia are paying the price for climate inaction.
“In addition to grant-based funding, polluting corporations must pay into this fund – fossil fuel companies who have profited from climate breakdown must now pay for the damage.”
Meanwhile, the World Meteorological Organisation Secretary General Professor Petteri Taalas described this year as a “cacophony of broken records”.
Giving a sombre breakdown of new research at a press conference in Dubai, he detailed how global temperatures and sea level rise are at record highs while Antarctic sea ice is at a record high.
He pointed to events like like wildfires in Hawaii, Canada and Europe; floods in Greece, Libya, Bulgaria and Turkey; and heatwaves in southern Europe and parts of Africa as evidence of the range of extreme weather experienced by the world in 2023.
COP28 has been formally opened this afternoon by the United Nations and the United Arab Emirates, the latter of which is serving as the conference’s host this year.
Major issues include a stocktake of countries’ progress – or lack thereof – on cutting emissions to prevent temperature rise, setting up a fund to help vulnerable countries hit by the effects of the climate crisis, and targeting fossil fuel use.
Dr Sultan Al Jaber, the UAE-appointed President of COP28, told the opening plenary that he intends to “run an inclusive and transparent process, one that encourages free and open discussion between all parties”.
Al Jaber is the UAE’s special envoy for climate change but also the CEO of the Abu Dhabi National Oil Company, which recent analysis by Global Witness forecast would increase the emissions from its oil and gas products by more than 40% by 2030.
Journalists at the Centre for Climate Reporting (CCR) and the BBC reported this week that briefing notes prepared by the UAE’s COP28 team for Al Jaber ahead of meetings with foreign governments this year showed plans to try to strike new fossil fuel deals. A COP28 spokesperson said in response that the briefing notes were “inaccurate and were not used by COP28 in meetings”.
In his opening speech this afternoon, Al Jaber set out his stance that the presidency “proactively engage[d] with oil and gas companies”.
“We had many discussions. Let me tell you, it wasn’t easy, but now, many of these companies are committing to zeroing out methane emissions by 2030 for the first time and many national oil companies have adopted net zero 2050 targets for the first time,” he said.
He called on countries to deliver on setting up the new loss and damage fund and to “find common ground” in negotiations with each other on fossil fuels and renewable energy, asking them to “never lose sight of our North Star of 1.5.”
UN Climate Change Executive Secretary Simon Stiell put countries on alert that they will be required to submit updated climate strategies in the coming years.
“In 2024, countries will submit their first Biennial Transparency Report. This will mean the reality of individual progress can’t be concealed,” Stiell said.
“We will also agree at COP29 how to finance this massive shift, with the new Finance Goal.
“And let this be your first official notice that early in 2025, countries must deliver new Nationally Determined Contributions — Please start working on them now.”
“This takes us to COP30, where every single commitment – on finance, adaptation, and mitigation – has to be in line with a 1.5 degree world.”
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Little old IRELAND will solve the climate change..considering we seem to be solving all the other world
problems.
@Mogwai: Little old Ireland is not really doing enough as our emissions are still way too high and rising in some sectors. Meanwhile, other countries are putting in the hard graft to lower emissions. But of course, you’d like Ireland to belong to the other freeloading countries who are doing nothing or doing far too little.
@Name not provided: I was been abit sarcastic there pal….just putting out there Ireland like to think they can save the world…
@Mogwai: The emissions in the Dail Bar definitely need to be reduced.
@Mogwai: We cant save ourselves.
And 95 million promised to the greyhound and horse industry. Great country.
Ryan will pledge any money we have for his excuse to climate change
@giles wolohan: Horses and dogs are getting it now.
the biggest effect on the world is pollution, very few countries in the west now days are having a effect on Mother Nature. Our climate is getting warmer due to 2 reasons one Mother Natures natural cycles two we dont burn coal any more and without a huge smog cloud covering most of Ireland , uk and other Europe regions has returned our climate.
In other countries manufacturing has increased dramatically and the burning of coal, with us the effects was a cooler weather system with them it’s what we seeing now, which dose have a knock on effect globally.
We are currently in a good place and don’t need more taxes , maybe grow more trees along our motorways.
And make certain items illegal for companies to make use and sell on.
@J M: good that your hypotheses on what is affecting the globe’s climate is out there.
It’s just your own ill-informed nonsense opinion, not backed by any science but sure that’s far easier to do than actually get an education and study these matters deeply to actually understand them.
The internet has given a voice to everyone.
But you don’t need to show everyone you know very little.
@J M: Seems like you’ve been smoking some of Mother Nature’s finest. So it’s pure just natural cycles, coal, smog and manufacturing? Thank god for that planned row of trees along the M1. Absolutely delusional and random response there, buddy …
I get we all have to change our ways to help alleviate any problems that we cause to our environment. What I don’t get is why if you are rich you can carry on as normal because you can pay for your actions that damage the climate. I also don’t get that we are pushing so hard and as a result making life harder for the less well off as a result. This country was covered in trees before our rich neighbours cut them down to build their navy and polute the world from their industry, yet we pay far more for climate damaging actions than they do in terms of daily living costs. I also don’t get why everybody doesn’t get a carbon allowance if we really want to “save the planet”, but then why should you have to if you are rich, far better to make lower classes be colder in winter than ask rich people to get a bus to the airport and leave there Merc at home never mind asking them to only fly 5 or 6 times a year
Whinging and money stirred up by the climate cult as usual, it will go t third world corruption very little to where it may do some good.
All the heads fly into an oil rich country on private jets, eat meat laden banquets and tell the rest of us we are “collapsing” the climate by driving to work and eating our dinner. The hypocrisy is stunning. Maybe if you started using air temperatures instead of ground temperatures in urban settings during the summer your dire predictions of global meltdown wouldt be so bad. I have never heard such sensationalism in a speech in my life. Waiting on regular journal bots like name not provided or Brendan O Brien to spit some chips
€400 million pledged worldwide to assist those impacted by climate change at cop28. Irish government giving horse racing and greyhound racing €95 million
What is the Amount due in from China?? Biggest producer of greenhouse gasses in the world – fact as per news articles posted about a week ago.
@Irish Citizen: so nobody should bother unless China takes the lead?
Cue the group that will shout “Ireland is only small, we’ll make no difference.” Incidentally, my guess is that group are a bunch of jobless, long-term dole recipients. This freeloading attitude does not come from nowhere and, sure, what difference would their freeloading make to the public purse.
@Name not provided: Every one with a child is getting free money from the state every month, are they all freeloaders too?
2nd Peter 3:7, says the earth is reserved for destruction by fire, no amount of money or men will change the will of Him who created it. You can choose to listen to the word of men or the voice of God, your choice.
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