The annual UN summit aimed at averting climate disaster kicks off this week, with the oil-rich United Arab Emirates hosting the talks.
The choice of the host nation for the 28th climate negotiations proved controversial, as did the decision to appoint Sultan al-Jaber, UAE’s minister of industry and advanced technology and CEO of the Abu Dhabi National Oil Company, to preside over them.
While world leaders welcomed the appointment of the fossil fuel executive — US climate envoy John Kerry called him a “terrific choice” — many politicians and environmental groups were outraged. More than 130 EU and US lawmakers signed a public letter saying his presidency “risks undermining negotiations.”
Discussions at COP28 will span everything from tackling agricultural emissions and food security to how countries can adapt to weather extremes as we heat the planet by burning fossil fuels.
The streets of New York City have recently been flooded by rush-hour rainstormsImage: Jake Offenhartz/picture alliance/dpa/AP But three key issues are set to dominate talks: climate financing for vulnerable countries, bolstering emissions cuts pledges and phasing out fossil fuels.
What’s next for the loss and damage fund? A “loss and damage” fund for low-income countries hit by extreme weather had long been resisted by wealthy, high-polluting nations who feared being on the hook for vast sums of money. One 2018 study estimated losses from climate change could cost vulnerable nations between $290 billion and $580 billion by 2030.
Harjeet Singh, head of global political strategy at the Bonn-headquartered Climate Action Network, told DW that developing countries most vulnerable to the consequences of planetary heating have done little to contribute to the fossil fuel emissions causing climate change.
“Who bears the most responsibility?” said Singh, “It’s rich countries who have put close to 80% of greenhouse gas emissions into the atmosphere, which is responsible for the climate crisis.”
Rich nations have historically produced far more greenhouse gas emissions than other countriesImage: Kevin Frayer/Getty Images But last year at COP27, delegates reached a major breakthrough, agreeing to establish a fund to help developing countries recover after weather disasters. Delegates in Dubai will have to agree on the finer sticking points like which states will be able to access the fund, who will pay how much into it and how will it be administered.
Ahead of the talks, a transitional committee of representatives from developing and developed nations drafted recommendations to answer those questions. The highly charged discussions failed several times before producing a tentative agreement proposing the World Bank host the fund in the interim.
This has been seen as a major concession by developing nations, who fear the institution would give richer nations more influence.
The committee also recommended against the contentious idea of making payments legally binding, instead urging developed countries to contribute to the fund.
“We are extremely concerned as civil society because we don’t find those recommendations very strong, particularly holding the developed countries to account to pay for the loss and damage,” said Singh.
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