Fund for Climate Impact Response: World hails first victory on day 1 of COP28

Fund for Climate Impact Response: World hails first victory on day 1 of COP28

DUBAI: World nations, international organisations and top officials have hailed the historic decision at COP28, which began today in Dubai, to operationalise the Fund for Climate Impact Response.

The UAE and Germany each pledged US$100 million to the fund, while the UK committed £40 million for the Fund and £20 million for other arrangements. Moreover, Japan contributed US$10 million, and the U.S. committed US$17.5 million to the Fund for Climate Impact Response, an important milestone in delivering for vulnerable communities and building resilience for people suffering the devastating impacts of climate change.

Dennis Francis, President of the 78th session of the UN General Assembly, welcomed the agreement on Fund for Climate Impact Response at COP28 and said, “I commend UAE and Germany for their significant contribution and thank all partners for this historic deal.”

Writing on X (formerly twitter), he added that the fund will help address climate impacts on some of the most affected countries.

Jennifer Morgan, German State Secretary and Special Envoy for International Climate Action, commended the move and said, “Outstanding that all parties have come together in an expression of solidarity to adopt the new Fund for Climate Impact Response in the opening of #COP28.”

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