The European Union Prepares to Increase Support for the Global Climate Fund

The European Commission announced today, Monday, that the European Union will provide a "significant" financial contribution to a new international fund aimed at addressing the destruction caused by climate change. The Commission stated: "Commissioner Wopke Hoekstra is ready to announce a significant financial contribution from the EU and its member states to the loss and damage fund at the United Nations Climate Change Conference COP28." The loss and damage compensation fund, which is the first of its kind in the world regarding climate, is set to be launched at COP28, which will be held from November 30 to December 12 in the UAE.