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COP28: Countries approve “historic” climate disaster fund on 1st day of summit

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COP28 President, Sultan al-Jaber, opened this year's United Nations (UN) climate summit in Dubai, United Arab Emirates (UAE), on Thursday by urging countries to find common ground in policies to meet global climate goals.

Jaber, who is also the CEO of the UAE's national oil company Abu Dhabi National Oil Company (ADNOC), acknowledged in a text version of his opening remarks that there were "strong views about the idea of including language on fossil fuels and renewables in the negotiated text… [but] I ask you to work together."

In an early victory that representatives were hopeful for, delegates adopted a new fund to help poor nations cope with climate disasters, which Jaber said was “historic.” But some groups were cautious about celebrating the fund's early adoption, noting there were still unresolved issues including how the fund would be financed in the future.

U.S. special climate envoy John Kerry described it as “a great way to start this COP,” while Germany’s special climate envoy said that “it sets the tone of hope” but that “every fossil fuel CEO… needs to decide which side of history he or she is on.”

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