Climate damage fund hailed, but needs billions rather than millions

Climate damage fund hailed, but needs billions rather than millions

DUBAI: The launch of a climate "loss and damage" fund drew praise and hundreds of millions of dollars in pledges at the UN COP28 talks on Thursday but also warnings that much more is needed to help vulnerable nations.
"We have delivered history today," the UAE COP28 president Sultan Al Jaber told delegates who stood and applauded after the decision adoption in Dubai.
The announcement was followed immediately by financial pledges, including 225 million euros ($246 million) from the European Union, $100 million from the United Arab Emirates, another $100 million from Germany, $40 million from Britain, $17.5 million from the United States and $10 million from Japan.