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COP28 to focus on loss and damage funding, with EU and UAE pledging support

COP28 to focus on loss and damage funding, with EU and UAE pledging support

damage funding

EU Climate Commissioner and Chief COP28 Negotiator Wopke Hoekstra met with COP28 President Designate Dr Sultan Al Jaber to discuss the preparations for COP28, which will take place in Dubai, United Arab Emirates, from 30 November to 12 December.

They underscored their shared conviction that COP28 must accelerate practical action on mitigation, adaptation, loss and damage funding and climate finance and build a fully inclusive COP28 that leaves no one behind.

They reconfirmed their commitment to work together to facilitate the highest possible ambition at this year’s UNFCCC conference, and agreed on the importance of several critical elements that could frame an ambitious COP28 outcome:

  • They agreed on the importance of the successful completion of the first Global Stocktake under the Paris Agreement which should mark a turning point on climate action in this critical decade and inform immediate and future climate action, including the next round of NDCs, and clear pathways to achieve emissions reductions, enhance resilience and necessary finance flows.
  • The Commissioner and the COP28 President welcomed the very positive outcome of the Transitional Committee in Abu Dhabi. The Commission reaffirmed its support for this outcome and recommendations made by the Committee.
  • The COP28 Presidency and the Commissioner emphasised the importance of operationalising the Loss and Damage funding arrangements at COP28 including early pledges.
  • The Commissioner is ready to announce substantial financial contribution by the EU and its Member States to the loss & damage fund at COP28 in the context of an ambitious outcome at COP28 across mitigation, adaptation and means of implementation in a way that leaves no one behind.
  • The Commission is also planning to announce a financial contribution in support of the COP28 Renewable Energy and Energy Efficiency pledge and invites countries to do the same during the World Climate Action Summit.
  • The COP28 Presidency and the Commissioner emphasised the need for significant progress on enhanced adaptation action that builds resilience and reduces vulnerability, with a robust outcome on the Global Goal on Adaptation at COP28.

Related Article: COP28: MEPs Want All Countries to Strengthen Their Climate Commitments

Commissioner Hoekstra and Dr Sultan reemphasised that the depth and breadth of the UAE and EU relations and the trust established over decades of partnership are critical to our ability to work together and achieve our collective effort of an ambitious outcome at COP28.

Both parties emphasised that COP28 is a critical opportunity to show unity and restore faith in multilateralism in a world that is polarised through a positive, action-oriented engagement and outcomes.

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