The Prime Minister said this Saturday that the agreement on a “loss and damage” fund reached on the first day of COP28 already makes the summit historic, but he hopes the next few days will bring more results.
“Even if nothing else has been achieved, what has already been achieved is, in fact, historic,” said António Costa, addressing journalists, summing up the two days during which he participated in the 8th UN Climate Change Conference ( COP28). ), which takes place in Dubai, United Arab Emirates.
The prime minister was referring to an agreement to introduce a fund to finance “loss and damage” from climate change, which some 200 countries welcomed on the first day of the summit.
Recalling the last CoP, held in Egypt in 2022, António Costa said that “there were many good ideas, but few expectations” regarding their implementation. “We now begin this summit by moving from this vague idea to effective implementation,” he emphasized.
However, Portugal’s head of government hopes that the consensus reached on the first day can be reflected in bigger and better results at the end, scheduled for December 12.
As he has said since arriving in Dubai on Friday, he reiterated that the world has no time to waste and defended the need to envision goals, as Portugal has done with carbon neutrality, for example.
“This must be a global effort,” he added, emphasizing that, on the one hand, there is a need to support developing countries – those that both contribute the least and suffer the most from climate change – and that industrialized countries must do more and do better .
On the energy transition, the Prime Minister stressed that it comes at a cost, and that cost must be fairly compensated through economic development, job creation, attraction and investment. Otherwise, he added, “there will be no social conditions to support this transition.”
Antonio Costa also insisted on the value of the oceans, a topic that had received little coverage at previous summits, especially COP27, which saw a step back from the progress made in 2021.
“The oceans are the greatest regulator of climate and must be protected. They are a source of biodiversity protection, but they are also a platform for energy production,” he explained.
The Prime Minister is concluding his two-day trip to Dubai, where COP28 is taking place until December 12.
During his participation at the summit, he announced that Portugal would contribute around five million euros to a fund to finance “loss and damage” resulting from climate change.
As part of climate finance, Portugal has also signed a financial commitment agreement with the UN Green Climate Fund to support developing countries, as well as two debt conversion agreements with Cape Verde and Sao Tome and Principe.
MKA // San Francisco
Lusa/The End
Author: Lusa
Source: CM Jornal
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