Developing countries propose $100bn climate damage fund

Developing countries have proposed that a new U.N. fund unlocks at least $100 billion by 2030 to address irreversible damage caused by climate change, as states prepare to discuss who will benefit and who will pay in at the U.N. COP28 climate summit. If launched, it would be the first U.N. fund dedicated to addressing irreparable damage from climate-fuelled drought, floods and rising sea levels. At a United Nations committee meeting last week, developing countries including those in Africa, Latin America, Asia-Pacific and small island states, proposed that the climate damage fund should programme at least $100 billion by 2030.