Global Leaders Greenlight Climate Disaster Fund at UN Summit in Dubai
KAMPALA( UG)- World leaders have approved a climate disaster fund that will help vulnerable nations cope with the impact of drought, floods, and rising seawater.
This positive move was revealed on the first day of the United Nation’s Annual Climate Summit that is underway in Dubai, United Arab Emirates (UAE).In his opening remarks, Sultan Al-Jaber, the UAE’s Minister of Industry who is chairing the summit for its 28th meeting said the agreement marked a “positive signal of momentum” at the close of 2023. The leaders agreed that the fund will channel money to countries hardest-hit by climate-related disasters including in Africa.
On the sidelines of the event, the Ugandan delegation led by Energy Minister, Ruth Nankabirwa on behalf of Prime Minister Robinah Nabbanja, showed readiness as they called for a comprehensive transformation of climate finance, a matter that has long been at the heart of international climate negotiations. Talks in recent years were tainted by the failure of richer countries to make good on their 2009 promise to provide $100 billion a year in climate finance for resilience and clean energy by 2020.
However, speaking at the conference that opened yesterday and runs until December 12, the British High Commissioner to Uganda, Kate Airey, said leaders need to increase pace in decision making if such pledges are to be realized.