Dubai, UAE – The United Nations Climate Conference, COP28, officially commenced in Dubai, marking a significant step forward in global climate dialogue. Minister of Climate Change, Environment and Energy, His Excellency Thoriq Ibrahim delivered an intervention at the opening plenary as Parties adopted the decision to operationalise the Loss and Damage Fund and funding arrangements.

Minister Thoriq thanked the UAE for their leadership in ensuring the adoption of the Fund at the very outset of the session. Minister Thoriq further congratulated the members of the Transitional Committee, who worked diligently to prepare the set of recommendations upon which the Fund would be built. The fund’s operationalisation marks a victory for countries like the Maldives, who are disproportionately impacted by the climate crisis. Small Island Developing State have endured, and continue to endure, economic and non-economic losses and damages from decades.

Concluding his statement, Minister Thoriq called upon developed countries to capitalise the fund and ensure its ability to provide much needed funding for loss and damage for all developing countries.