Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, emphasized the need for increased efforts to address adaptation finance gaps and make climate finance more accessible to vulnerable nations at the third Climate and Development Ministerial.
The event, co-hosted by the UK, Vanuatu, and Malawi, aimed to prioritize the concerns of climate-vulnerable nations. The importance of supporting the most vulnerable was underscored, with discussions focused on enhancing the efficiency and effectiveness of adaptation finance.
The UAE pledged support for various initiatives, including the delivery of the long-overdue $100 billion annual funding commitment by developed countries to help developing nations.
This commitment is part of the COP28 Presidency’s Action Agenda. The event also saw efforts to address debt sustainability and create fiscal space for resilience investment.
