Tensions soar over new fund for climate ‘loss and damage’ ahead of COP28

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Mon, 2023-10-23 15:21

BARCELONA: Fears are growing that disagreements between rich and poor nations over how to manage a new fund to tackle the “loss and damage” caused by wilder weather and rising seas could throw the COP28 UN climate summit in Dubai into disarray. 

A “transitional committee” working out the details of the fund — which countries agreed to set up at last year’s COP27 climate conference — failed in Egypt late last week to issue a set of recommendations on how to get it up and running, after clashing over whether it should be hosted by the World Bank. 

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