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UK Prime Minister Rishi Sunak is set to pledge his support for a new fund to help vulnerable countries cope with the impact of rising temperatures when global climate talks kick off next week. Sunak will join the US and European Union in pledging money to the landmark loss and damage fund at the United Nations-backed COP28 summit in Dubai, according to people familiar with the matter who spoke on condition of anonymity.
The fund was finally agreed at COP27 in Egypt in 2022 after decades of fraught negotiations. Poorer countries have long argued that richer countries should help them pay for the havoc wreaked by climate change.
The final amount offered by the UK is yet to be decided and needs to be cleared. It is likely to come from its $14.6 billion International Climate Finance pot that the government already ring-fenced for the five years to 2026.
The fund was finally agreed at COP27 in Egypt in 2022 after decades of fraught negotiations. Poorer countries have long argued that richer countries should help them pay for the havoc wreaked by climate change.
The final amount offered by the UK is yet to be decided and needs to be cleared. It is likely to come from its $14.6 billion International Climate Finance pot that the government already ring-fenced for the five years to 2026.
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