The United Arab Emirates (UAE) has promised to inject $30 billion into projects to tackle climate-related crises in developing nations.
The UAE President, Mohammad bin Zayed, who announced this at the opening ceremony of the United Nations’ COP 28 Climate Summit on Friday, said the $30bn donation would bridge current gaps in climate finance and help stimulate private investment.
The figure, in addition to private contributions, will rise to $250 billion by 2030 and is dedicated to funding initiatives that drive the transition to green energy and the advancement of new technologies to address the challenges arising from climate change.
