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COP28: Canada will contribute $16M to the “loss and damage” fund | COP28: climate summit in Dubai

Natasha Kumar By Natasha Kumar Dec1,2023

COP28: Canada will pay $16 million to the “loss and damage” | COP28: climate summit in Dubai

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A displaced child walks near a makeshift camp in the flood-affected area of ​​Pakistan, January 9, 2023.

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Like the he European Union, the United States, the United Arab Emirates and Japan, Canada on Thursday pledged a contribution of $16 million to the fund to help developing countries to deal with “loss and damage” that their causes the climate crisis.

The announcement was made Friday by Federal Environment Minister Steven Guilbeault as part of the United Nations Climate Change Conference (COP28), which is taking place in Dubai, United Arab Emirates.

This is, according to Ottawa, a start-up contribution which makes Canada one of the first countries to pour money into this new fund which already has several hundred million dollars.

The European Union has allocated the equivalent of 245 million US dollars – including 100 million from Germany. This is followed by the United Arab Emirates, hosts of COP28, with $100 million, the United Kingdom ($75 million), the United States ($17 million) and Japan ($10 million). Other contributors should be added.

Developing countries are demanding at least $100 billion per year to deal with the destruction and disruption caused by climate change to which they have contributed little.

COP28: climate summit in Dubai

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The creation of this fund is intended to be a way of helping to correct a climate injustice based on the fact that rich countries have developed for 150 years by excessively consuming large quantities of fossil fuels, while they are Today the most vulnerable countries are paying the heaviest price.

Developing countries, which contribute the least to the pollution that causes climate change, are particularly vulnerable to some of its most severe consequences, such as intense storms, catastrophic flooding and sea level rise. explains Ottawa in a press release.

We must not leave climate-vulnerable developing countries to face these consequences alone . The creation of this fund is historic, and Canada is honored to be among the first donors to this fund.

A quote from Steven Guilbeault, Minister of Environment and Climate Change

This first payment from Canada to the “loss and damage” fund set up at the start of COP28 which opened yesterday, is made in collaboration with the Ministry of International Development based on the commitment of 5.3 billion dollars taken by the Trudeau government to finance the fight against climate change, which has the particular mission of helping countries more vulnerable to this crisis.

At a time when extreme weather phenomena are increasing, more than 70,000 participants from nearly 200 countries are meeting in Dubai until December 12 as part of the 28th United Nations Conference on the climate to take stock of the progress, or not, of global efforts to limit global warming.

The COP28 in Dubai is an opportunity to take stock of the measures adopted in the world since 2015.

Remember that to limit the With an increase in average temperatures below 1.5°C, global GHG emissions should be reduced by 43% by 2030. But currently, the efforts undertaken would reduce global emissions by at most 2 % by the end of the decade, according to the United Nations Framework Convention on Climate Change.

In Canada, citizens and the government are also still far from the Trudeau government's objective of reducing GHG emissions by 40% by 2030, compared to their 2005 level.

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Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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