Loss and damage fund to help poorer countries announced on first day of climate summit
At the Guardian we’ve been working hard to get you up to speed with what to expect from Cop28. If you can’t stop to read, you can listen.
The Guardian’s Science Weekly podcast this week focuses on everything you need to know about the climate talks, with host Ian Sample talking to Fiona Harvey, our environment editor and resident Cop expert.
As Rishi Sunak lands in Dubai, we are deeply concerned by the message the UK government is sending to countries in the global south affected by its alarming inaction on climate change. Ahead of the Cop summit this week, the UK claims that it is more ambitious on climate than any other major economy, but this couldn’t be further from the truth.
As it issues licences for over 100 new oil and gas fields and fails to provide a proper roadmap on how it will deliver £11.6bn in loss and damage finance to climate-stricken countries, the UK’s decisions today will continue to cause environmental catastrophe well into the future and cause immense harm to women and girls disproportionately affected by climate breakdown.
The UK is also the heart of the global financial sector, which our recent research found has poured hundreds of billions of pounds into fossil fuels and agribusinesses since the Paris agreement. With UK banks like HSBC and Barclays among the largest funders of climate chaos, it also has a responsibility to regulate the sector, ensuring that money stops flowing towards climate-wrecking industries.
Instead of accelerating investments into fossil fuels and continuing its harmful, polluting legacy, it should show strong leadership in Dubai and commit to phasing out fossil fuels entirely.
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