Developed countries pledge to contribute more than 400 million USD

The conference will push for the first-ever Global Assessment of Efforts under the Paris Agreement on climate change. Phasing out fossil fuels and initiating a just transition, as well as financial issues – in particular the controversial Loss and Damage Fund – are also expected to be high on the agenda.

COP28 President - Mr. Sultan Ahmed al-Jaber speaks at the Opening Ceremony of the Conference

The Loss and Damage Fund was established at COP 27 (2022), with the aim of compensating developing countries severely affected by extreme weather events caused by climate change. At the opening session of COP28, countries made specific commitments to contribute to the fund: 100 million USD; the European Union (EU) 225 million USD, of which Germany alone pledged 100 million USD; the United Kingdom 65 million pounds (equivalent to 75 million USD); the United States 24.5 million USD and Japan 10 million USD.

In the face of months of extreme heat across the planet, COP28 President Sultan Ahmed al-Jaber fully supports the most ambitious outcome possible at the Global Assessment of Efforts (GST) to review where the world stands in cutting emissions while trying to limit temperature rise to below 1.5 degrees Celsius.

The COP28 President said the conference needed to engage with fossil fuel companies. Many national oil companies have stepped up their efforts to reduce emissions, with targets for net zero methane emissions by 2030 and net zero emissions by 2050. But that is not enough and they can do much more.

Mr. Simon Stiell, Secretary-General of the United Nations Framework Convention on Climate Change (UNFCCC), emphasized: Reasonable investment decisions for the transition, including responding to loss and damage caused by climate change, are important. Commitments to new energy systems need to ensure equity to increase feasibility. That can be understood as equity within each country and between countries.

Previously, during the 2-day meeting of the G77 and China, one of the issues of concern to the parties was the approval of the agenda at COP28. The parties or groups of countries made 10 additional proposals for the agenda. At the Opening Session, the Conference discussed the issues according to the pre-determined agenda. Regarding the additional proposals, the countries agreed to continue the discussion later to avoid delays.

Scene of the opening ceremony of the COP28 Conference

COP28 is considered the largest Conference ever with a record number of heads of state and delegates attending. To date, over 170 heads of state and government have registered to speak at the Conference. There are also over 50,000 delegates from other countries, international organizations, media agencies and other relevant organizations attending.

The Vietnamese high-level delegation is led by Prime Minister Pham Minh Chinh. The Prime Minister will deliver a speech at the Summit held on December 2.

Accompanying the Prime Minister were leaders of the Government Office, a number of Ministers, leaders of the Ministries of Natural Resources and Environment, Foreign Affairs, Planning and Investment, Industry and Trade, Transport, Construction, Agriculture and Rural Development, Labor - Invalids and Social Affairs; State Bank of Vietnam, State Capital Management Committee at Enterprises, Vietnam Federation of Commerce and Industry; Vietnamese Ambassador to the UAE, leaders of a number of relevant localities, press agencies, representatives of a number of enterprises with activities related to the implementation of commitments at COP26.

The Vietnamese delegation attending the technical negotiations at COP28 was led by Minister of Natural Resources and Environment Dang Quoc Khanh, attending the entire duration of the COP28 Conference, including the preparatory sessions from November 28 to December 12. The members of the delegation are members of the Vietnam Negotiation Working Group on Climate Change from the Government Office and the Ministries of Natural Resources and Environment, Foreign Affairs, Industry and Trade, Transport, Agriculture and Rural Development, Planning and Investment, Finance, Science and Technology; representatives of the Vietnamese Embassy in the UAE, representatives of a number of localities and enterprises.

In addition to the exchange and negotiation activities within the framework of the COP28 Conference, the Vietnamese delegation attending the technical negotiations at COP28 is expected to chair a number of events at the Vietnam Pavilion from December 1 to 10. At the same time, the delegation will also participate in many side events of COP28 to introduce experiences and promote information and images of Vietnam's response to climate change, and strengthen international cooperation in responding to climate change.

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