COP28 head urges ‘accessible’ global climate finance

COP28 head urges ‘accessible’ global climate finance

Sultan Al Jaber, president of the COP28 climate talks, called on Saturday for "available, accessible and affordable" finance for the developing economies most vulnerable to the destructive impacts of a warming planet.

Al Jaber, who is also head of the United Arab Emirates' national oil company, said he had urged G7 climate and environment ministers meeting in Japan this weekend to prioritise support for poorer countries.

"The time has come for us to provide a fair deal for the Global South, especially when it comes to climate finance," he told AFP on the sidelines of the G7 talks in Sapporo.

"I'm fine with raising ambitions, even going for more ambitious plans and programmes" to fight global warming, he said.

However, to boost trust worldwide "this needs to be equipped and coupled and supported with real, pragmatic, actionable plans enabled by finance that is available, accessible and affordable".

Al Jaber, 49, is also the UAE's minister for industry and advanced technology and founded the government-owned renewable energy company Masdar.

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.

Floods that covered large swaths of Pakistan