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 oversee the fund for the next four years.
The best gift for foodies: This 8-piece Japanese chef’s knife set with gift box, now $299 off!FILE - 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, Nov.
The U.S. State Department, whose officials joined the negotiations in Abu Dhabi, said in a statement it was “pleased with an agreement being reached” but regretted that it does not make contributions to the fund voluntary. 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.
While acknowledging that an agreement on the fund is better than a stalemate, climate policy analysts say there are still numerous gaps that must be filled if the fund is to be effective in helping poor and vulnerable communities around the world hit by increasingly frequent climate-related disasters.
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