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

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Article Type: News Report

Published On: 2024-11-18 @ 08:26:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 892 words

Reading Time: 5 minutes read

Sentences: 37 lines

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News ID: 23762800

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