Global ‘loss and damage’ climate talks end in failure ahead of COP28
- At last year’s COP27, nations agreed to set up a fund to help vulnerable countries cope, but left the details for later
- Nations from the global north and south were unable to reach an agreement at Saturday’s vital meeting ahead of COP28, sources said
A crucial meeting on climate “loss and damages” ahead of COP28 ended in failure on Saturday, with countries from the global north and south unable to reach an agreement, according to sources involved in the talks.
The agreement to set up a dedicated fund to help vulnerable countries cope with climate “loss and damage” was a flagship achievement of last year’s COP27 talks in Egypt.
But countries left the details to be worked out later.
A series of talks held this year have tried to tease out consensus on fundamentals like the structure, beneficiaries and contributors – a key issue for richer nations who want China to pay into the fund.
A transition committee on the establishment of the fund met late on Friday and into Saturday in Aswan, in southern Egypt.
But the delegates were unable to reach an agreement and deferred the decision to another meeting due November 3 to 5 in the United Arab Emirates, according to a webcast of the debate on the official YouTube channel of the United Nations.
Ahead of the breakdown, the discussion hit a hurdle over where the funds should be held.