UAE Emphasises Progress On Loss And Damage Fund At COP29 In Azerbaijan

The COP28 Presidency transitioned to Azerbaijan on 11th November. During the opening ceremony, there was a strong focus on speeding up actions to implement the UAE Consensus, which was introduced in Dubai last year. At the 29th Conference of the Parties (COP29) in Azerbaijan, the UAE took part in launching the Fund for Responding to Loss and Damage (FRLD), which is now open for contributions and aims to start funding projects by 2025.

The UAE Consensus, established at COP28 in Dubai, marked a significant step towards ambitious climate action. This framework aims to maintain global temperature rise within 1.5°C by setting targets like transitioning from fossil fuels to achieve net zero by 2050 and tripling renewable energy while doubling energy efficiency by 2030. The agreement to operationalise and fund FRLD was made on COP28's first day, with over $850 million pledged within 48 hours.

COP29 has attracted widespread international involvement with a renewed focus on accelerating global climate efforts. By aligning worldwide priorities with practical capabilities, the UAE aims to transform these into tangible and fair outcomes. The UAE launched its dynamic programming on Wednesday, 13th November, at its Pavilion and Goals House, facilitating discussions among climate experts, officials, private sector leaders, academics, and youth to address pressing climate issues.

Abdulla al Balalaa, Assistant Minister of Foreign Affairs for Energy and Sustainability and FRLD Board Member, stated: "We stand united in our collective aim to support those that are impacted by climate-induced damages; especially those throughout vulnerable communities where the greatest burden often falls. For these communities, the impacts of loss and damage extend far beyond economic hardships. They bear the weight of irreplaceable losses—losses that affect their culture, identity, and very way of life."

Al Balalaa further emphasised: "It is our shared responsibility to progress a united effort and strengthen coordination, foster meaningful knowledge sharing, and most importantly mobilise resources at an unprecedented level. As we mark this important milestone, let us renew our commitment to collective action; every effort and every policy implemented serves those most impacted. The UAE stands ready to contribute towards a future of resilience and climate justice for all."

The operationalisation of FRLD during COP28 was historic as it was achieved on the first day of a COP event for the first time. This fund is designed to assist communities affected by climate change-related damages beyond just economic losses. It also addresses cultural and identity impacts that these communities face due to such damages.

As COP29 progresses with broad international participation, it continues building upon the momentum set by previous conferences. The UAE remains committed to driving forward ambitious climate actions that align global priorities with practical solutions for equitable outcomes.

With inputs from WAM