COP28 formally approves climate disaster fund arrangements

The fund is to help vulnerable nations cope with the cost of climate-driven damage from drought, floods, and rising seas.

Dubai: Countries at the U.N. COP28 climate summit on Thursday formally approved a deal on a new climate disaster fund.

The deal was adopted following the COP28 opening ceremony, drawing a standing ovation from delegates.

Representatives from developed and developing countries painstakingly crafted the agreement during negotiations this year. It will launch a fund to help vulnerable nations cope with the cost of climate-driven damage from drought, floods and rising seas.