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COP28: Ramaphosa urges for “new, at scale and appropriate finance’ to back vulnerable nations

Neelam Rahim | neelam@radioislam.co.za

3-minute read
07 December 2023 | 15:37 CAT

Image: News24

The president of South Africa encouraged international leaders attending COP28 on Friday, Dec. 1, to take more action for vulnerable nations that suffer disproportionately from the effects of climate change.

On the first day of the climate conference, almost every country completed the establishment of a fund to compensate nations who are having difficulty coping with the loss and damage brought on by climate change.

The COP28 climate conference president, Sultan al-Jaber, said on Thursday, Nov. 30, that $420 million had been committed in the first hour of the announcement.

Ramaphosa applauded the action but demanded increased grant funding.

According to a count by the environmental advocacy group Natural Resources Defence Council, the total amount contributed so far is a little over $576 million.

WWF South Africa’s Senior Manager for Climate Action, James Reeler, underscored the ongoing COP28 in an interview with Radio Islam International.

According to Reeler, while there has been progress, there have also been slow movements.

“An early win is the loss and damage fund, which is sort of an effective insurance mechanism where there are severe climate impacts, particularly for developed nations that have been formalised and are operating. However, it still remains for developed nations to put substantive funds in it,” Reeler said.

Reeler hopes to see more commitment and funds put into perspective.

He said, “The Hurricane that hit Alkapolka earlier this year, did something in the range of $15 billion worth of damages and argues the $15 billion is not going to go very far.”

The world’s largest historical polluter, the United States, was criticised by activists for its insufficient offer.

$17.5 million has been pledged by the US.

The heads of the two largest carbon-polluting countries, which account for almost 44% of global emissions, are not present to get the direct message.

Only a few weeks after establishing a bilateral deal to help reduce methane emissions, Presidents Joe Biden of the United States and Xi Jinping of China are not attending this COP.

Listen to the full interview on Your World Today with Mufti Yusuf Moosagie.

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