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Global Climate Finance Must Be Accessible: COP28 Head | |
| Sumita Pawar |
Sultan Al Jaber, president of the COP28 climate talks, has called for "available, accessible, and affordable" finance for developing economies that are most vulnerable to the impacts of climate change.
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Al Jaber, who is also the head of the UAE’s national oil company, said that he had urged the G7 climate and environment ministers meeting in Japan to prioritise support for poorer countries.
COP27, held in Egypt in November, brought a landmark agreement to create a "loss and damage" fund to cover the costs of the destruction that developing countries face from climate-linked natural disasters.
He also called for the world to triple the amount of money available for clean tech investment, adaptation finance, and energy transition in developing countries by 2030.
The latest draught of a G7 climate statement to be issued on Sunday reaffirms the bloc’s commitment to the $100 billion pledge to provide developing nations with funding to fight climate change. The pledge was first made in 2009.