What is the climate loss and damage fund and where is the cash?

Quick Summary:

COP29 signs off on a fund to help vulnerable nations harmed by climate change, but pledges so far stand at just US$720 million.

Meanwhile, financing for developing countries to adapt to climate change stood at a record US$28 billion in 2022.

Developed nations have pledged US$720 million to the fund, with Sweden becoming the latest to join, promising $19 million, at the climate summit this week.

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Category: EconomyBusiness

Markets: SingaporeBangladeshPhilippinesSwedenUnited States

Topics: Investment Decarbonisation Agriculture Oil Climate COP28 Farming UN Crops Floods COP29 Sustainable finance Climate finance Climate risk Climate justice Loss and damage Financing Heatwaves Extreme weather COP Global warming Inequality Fossil fuels Emissions

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Article Type: News Report

Published On: 2024-11-18 @ 08:26:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

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