Disputes among wealthy nations stall progress on climate change victim fund

Internal disagreements among rich countries are hindering the establishment of a crucial global fund aimed at aiding victims of climate change.

Zia Weise and Sara Schonhardt report for Politico.

In short:

• Wealthy countries are at odds over board representation for a new global fund to aid climate disaster victims.
• The EU and the U.S. disagree on whether major donors should have more seats on the board.
• These disputes have delayed the board's formation, potentially postponing crucial aid for communities affected by climate disasters.

Key quote:

“With our group, Russia is blocking all the appointments. We were unable to resolve it at COP28 in person, so everybody’s held hostage. This is still the case.”

— Ukrainian negotiator

Why this matters:

This impasse among wealthy nations underscores the urgency of resolving bureaucratic and political hurdles to provide timely support to those most affected by climate change.

Related: An audio diary from the COP28 climate conference