‘COP28 to help build the foundation for the climate finance system of the future’ - Times of India
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NEW DELHI: Ahead of the upcoming 28th session of the UN climate change conference ( COP28 ) in Dubai, its president-designate, Sultan Ahmed Al Jaber , has written to 198 nations, including India, assuring that the UAE presidency for the annual meet would work for making it a “milestone” to help build the foundation for the climate finance system of the future. In his letter, he also reminded the rich nations of their unfulfilled promises on delivering climate finance for supporting developing countries, and urged them to scale up finance saying the current level of replenishment is “neither ambitious nor adequate” to meet the world’s challenge. “Developed nations must honour their commitments and provide maximal assurances to channel $100 billion annually towards developing countries through to 2025, as well as show progress on at least doubling adaptation finance by 2025,” said Al Jaber who is also the UAE special envoy for climate change. He said, “As I laid out before,