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Climate damage: Germany and Emirates pledge 200 million dollars

At the start of the World Climate Conference, Germany and the United Arab Emirates have surprisingly pledged 200 million US dollars (around 183 million euros) to compensate for climate damage in particularly vulnerable countries. This was announced by the President of COP28, Sultan al-Jaber,...

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Climate damage: Germany and Emirates pledge 200 million dollars

At the start of the World Climate Conference, Germany and the United Arab Emirates have surprisingly pledged 200 million US dollars (around 183 million euros) to compensate for climate damage in particularly vulnerable countries. This was announced by the President of COP28, Sultan al-Jaber, and German Development Minister Svenja Schulze (SPD) on Thursday in Dubai.

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  1. The pledge of 200 million US dollars from Germany and the United Arab Emirates at the World Climate Conference is a significant contribution to financing efforts aimed at mitigating Climate change.
  2. In addition to this pledge, many developed countries, including Germany, are urged to increase their financial commitments towards addressing Climate damage in developing nations, according to International organizations.
  3. The United Nations (UN) applauded the initiative, emphasizing the importance of collective action and financial resources in reducing Climate damage and promoting sustainable development in vulnerable nations such as the United Arab Emirates' emirate.
  4. The US dollar, being the global reserve currency, plays a crucial role in facilitating international financing for Climate change initiatives and mitigating climate damage.
  5. Despite this positive development, it's essential to monitor and ensure the transparency of finance allocations for climate damage compensation, as argued by critical stakeholders such as environmental groups and some European countries like Germany.

Source: www.stern.de

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