Environment, Forest and Climate Change Minister Saber Hossain Chowdhury on Monday urged the global leaders to mobilize the Loss and Damage Fund and disburse it immediately among the climate vulnerable countries.

“The success of Loss and Damage Fund, formed during the COP28, depends on fund mobilization and how rapidly the fund can be disbursed to the communities hit hard mostly by climate change,” he told the World Government Summit titled “Delivering the UAE Consensus Globally: From Agreement to Action” held in Dubai, the UAE.

He further said:  “We need a clear definition of climate finance, and the New Collective Quantifiable Goal must align with needs and scientific assessments for mitigation, adaptation, and loss and damage.”

Regarding capping the rise in global temperatures below 1.5°C, Saber said: “We need robust follow-up and accountability for GST outcomes. The UAE Consensus marked a historic shift, securing concrete commitments to move away from fossil fuels.”

The environment minister said: “We must prioritize areas like the mitigation work program and just transition pathways to support GST outcomes and achieve Paris Agreement objectives, promoting inclusive climate action implementation.”

Saber Hossain Chowdhury emphasized the importance of delivering the UAE Consensus and turning its ambitious goals into real actions that align with keeping global temperature rise below 1.5°C. The Global Stocktake decisions from COP28 have outlined essential tasks for 2024 to guide implementation and track progress on climate action for accountability.

Dr Sultan Al Jaber, COP28 president and UAE special envoy to climate change; Kristalina Georgieva, managing director of the International Monetary Fund (IMF);  Muawieh Radaideh, minister for environment of Jordan;  Simon Stiell, executive secretary of UNFCCC; and Mukhtar Babayev, COP29 president designate and minister for ecology and natural resources of Azerbaijan; also spoke on the occasion.

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