12:56, 8 December 2023
YEREVAN, DECEMBER 8, ARMENPRESS. COP28 has mobilized over $83 billion in the first five days, setting the pace for a new era in climate action.
These include the first ever declarations on food systems transformation and health, plus
declarations on renewable energy and efficiency, as well as initiatives to decarbonize
heavy emitting industries.
11 pledges and declarations have been launched and received historic support.
On day one of COP28, the Presidency facilitated a historic agreement to operationalize
and capitalize funding for Loss and Damage, supporting those on the front lines of the
climate crisis with $726 million already pledged to date.
$3.5 billion in new money announced to replenish the Green Climate Fund (GCF)
$133.6 million announced toward the Adaptation Fund
$129.3 million announced toward the Least Developed Countries Fund (LDC)
$31 million to the Special Climate Change Fund (SCCF)
• UAE launched a $30 billion catalytic fund, ALTÉRRA, to drive positive climate action.
The fund seeks to mobilize an additional $250 billion globally.
• The UAE committed $200 million to help vulnerable countries through Special Drawing
Rights (SDRs) and $150 million to fund water security solutions.
• The World Bank announced an increase of $9 billion annually for 2024 and 2025 to
finance climate-related projects. Multilateral Development Banks (MDBs) announced a
cumulative increase of over $22.6 billion toward climate action.
The full breakdown of pledges and declarations so far is as follows:
• The Global Renewables and Energy Efficiency Pledge has been endorsed by
123 countries.
• The COP28 UAE Declaration on Agriculture, Food, & Climate has received
endorsements from 140 countries.
• The COP28 UAE Declaration on Climate and Health has been endorsed by 132
countries.
• The COP28 UAE Declaration on Climate Relief, Recovery & Peace has been
endorsed by 75 countries and 40 organizations.
• The COP28 UAE Declaration on Climate Finance has been endorsed by 13
countries.
• The Coalition for High Ambition Multilevel Partnerships (CHAMP) Pledge has
been endorsed by 65 countries.
• The Oil and Gas Decarbonization Charter has been endorsed by 52 companies,
representing 40 percent of global oil production.
COP28 CLIMATE ACTION TRACKER
Media Fact Sheet
• The Industrial Transition Accelerator has been endorsed by 35 companies and
six industry associations, including World Steel Association, International
Aluminium Institute, Global Renewable Alliance, Global Cement and Concrete
Association, Oil and Gas Climate Initiative, International Air Transport
Association.
Breakdown of financial pledges and contributions so far:
• Loss and Damage: $726 million
• Green Climate Fund: $3.5 billion (increasing second replenishment to $12.8
billion)
• Adaptation Fund: $133.6 million
• Least Developed Countries Fund: $129.3 million
• Special Climate Change Fund (SCCF): $31 million
• Renewable Energy: $5 billion
• Cooling: $25.5 million
• Clean Cooking: $30 million
• Technology: $568 million
• Methane: $1.2 billion
• Climate Finance: $30 billion from UAE, $200 million in Special Drawing Rights,
and $32 billion from Multilateral Development Banks (MDBs)
• Food: $3.1 billion
• Nature: $2.6 billion
• Health: $2.7 billion
• Water: $150 million
• Gender: $2.8 million
• Relief, Recovery and Peace: $1.2 billion
• Local Climate Action: $467 million․