The President of COP28 Urges Greater Adaptation Financing for Vulnerable Countries

Al Jaber stated at the third Climate and Development Ministerial, which was co-hosted by the United Kingdom, Vanuatu, and Malawi, that "people and the planet lie at the heart of the climate process, which is focused on protecting lives, livelihoods, and nature."

President of COP28 Sultan al-Jaber has emphasised the significance of stepping up efforts to close adaptation financing gaps and make climate finance more accessible to disadvantaged nations.

Al Jaber stated at the third Climate and Development Ministerial, which was co-hosted by the United Kingdom, Vanuatu, and Malawi, that "people and the planet lie at the heart of the climate process, which is focused on protecting lives, livelihoods, and nature."

"To ensure an inclusive and equitable transition to low-carbon and resilient growth, emerging and developing countries' voices must not go unheard," he added. COP28 must leverage an effective response to the Global Stocktake and chart a course to bridge financing shortages and rectify flaws in the global climate finance infrastructure."

Graham Stuart, the UK's energy security and net zero minister, reaffirmed the country's commitment to assisting the most needy, citing the country's $2 billion donation to the Green Climate Fund this year. He went on to say, "Together with our international partners, we will delve into the challenges and opportunities...to keep 1.5°C within reach and encourage every nation to join the UK on a pathway to net zero."

Ralph Regenvanu, Vanuatu's minister of climate change adaptation, underlined the importance of the climate crisis. "As we meet today, the people of Vanuatu are confronted with a landscape devastated by Cyclone Lola." "The Pacific Islands are feeling the effects of climate change on a daily basis," he said. He advocated for more funding for Small Island Developing States' adaptation plans and programmes.

Similarly, Malawi's minister of natural resources and climate change, Michael Usi, emphasised the specific issues that LDCs face. "For years we have been calling for improved access and delivery of climate finance, and more at the local level," he said.

During the ministerial, Jaber emphasised the four pillars of the COP28 Presidency's action agenda: energy transition acceleration, nature, lives and livelihoods, and inclusivity. He also praised the measures and actions supported by the COP28 chair, such as the $100 billion yearly financing pledge and the replenishment of climate-related funds.

Furthermore, the UAE's recent $4.5 billion offer for sustainable energy initiatives at the Africa Climate Summit was highlighted, emphasising the UAE's commitment to encouraging green growth. The ministerial meeting in Abu Dhabi was an important step before COP28, highlighting the need of assisting nations most affected by climate change in transitioning to a climate-resilient economy.

Source: energy.economictimes.indiatimes.com