By Ken Afor
On Thursday, at the COP28 Climate Summit in Dubai, United Arab Emirates, $261 billion was raised to assist nations who have suffered from climate catastrophes consequent to fossil fuel exploitation.
At the commencement of the climate summit in Dubai on Thursday, a range of countries presented donations including $100m from the United Arab Emirates (COP28 host), $100m from Germany, $51m from Britain, $17.5m from the United States, and $10m from Japan.
Uncertainty remains as to whether further donations will be given before the conclusion of the two week conference.
Nigeria and other financially deprived oil-producing nations had pleaded for the creation of a damage fund for a long period of time, with analysts alleging that the donations could work as a key factor to ensure other agreements are reached during the two-week summit.
Necessity for the fund arose after energy giants IOCs shifted their investments from fossil fuels to renewable sources.
Emphasising the need for richer countries to take into consideration poorer countries when making decisions to phase out fossil fuels, Secretary General of the African Petroleum Producers’ Organisation, Omar Farouk Ibrahim, said in a statement released on Thursday that these fuels had helped those wealthier countries develop.
Earlier, Nigeria’s President, Bola Ahmed Tinubu had the opportunity to meet with King Charles III of England.
The President in his ongoing conversations with world leaders had talks with King Charles III – “a passionate climate change advocate” where both leaders discussed ways of strengthening relations between Nigeria and the United Kingdom.
“I had a productive meeting with His Majesty, King Charles III of England who is also the Head of the Commonwealth, and a passionate climate advocate.
“The meeting was a significant step in strengthening the partnership between Nigeria and the United Kingdom, and I am optimistic about the positive impact our joint efforts will have on our planet’s future as we look forward to setting an equitable global standard for environmental stewardship at COP28,” the president said on his verified X account on Thursday.
