Today: 25 May 2025
12 December 2023
1 min read

Commonwealth Raises $320M in Climate Finance

Commonwealth has raised more than US$320 million in climate finance for small countries, in addition to another US$500 million that is in the pipeline.

UnniKrishnan Divakaran Nair, Head of Climate Change at the Commonwealth Secretariat, said that climate finance is essential to boost investments in low-carbon development and the ability of at-risk countries to mitigate the repercussions of climate change.

He pointed out that the Commonwealth has raised more than US$320 million in climate finance for small countries, in addition to another US$500 million that is in the pipeline.

The Commonwealth official told the Emirates News Agency (WAM) on the sidelines of the 28th United Nations Conference of the Parties (COP28) in Dubai that this current edition of COP was able to provide an opportunity for multilateral work and a platform for communication between stakeholders to advance global climate action.

He mentioned the establishment of the Commonwealth Climate Finance Access Hub (CCFAH), which is a mandate for the Commonwealth Secretariat to unlock financial support to developing countries, and a confirmation of the commitment of the 56 Commonwealth member states to move forward in addressing climate change.

The Commonwealth official pointed to the initiative to provide the necessary training to build the capacities of nearly 2,500 officials from the organisation’s member states, and to provide the necessary research and statistics to gain a deeper understanding of the issue of climate change, in addition to implementing the Commonwealth Charter, which is in line with the United Nations’ commitments to address climate change, desertification, and biodiversity,

He called for the exchange of solutions between Commonwealth member states and to promote new and renewable energy projects.

ALSO READ: ‘Efforts to Solution’: Sadhguru Hails COP28 UAE

Previous Story

India Slips to Fourth Global Ranking in Startup Funding for 2023

Next Story

Indian Markets Set to Break New Records

Latest from -Top News

UAE bakery aid reaches Gaza

The convoy is a crucial component of the UAE’s ongoing humanitarian strategy under Operation Chivalrous Knight 3, which prioritises urgent food aid. A major humanitarian relief convoy has successfully entered the Gaza

Tech giants unite for Stargate UAE

This marks the beginning of a strategic partnership involving G42, OpenAI, Oracle, NVIDIA, Cisco, and SoftBank Group, all coming together under the banner of international AI leadership. In a landmark announcement that

‘Make It in Emirates’ boosts Dh11b projects

The event welcomed more than 122,000 visitors — a 20-fold increase over its previous edition — and drew participation from over 720 local and international industrial, financial, and technology entities. The fourth

UAE leads Arab health push in Genevaa

UAE Health Minister Al Owais highlights Arab unity at WHO Assembly, reaffirming commitment to global health, crisis response, and sustainable healthcare innovation for the future. The UAE underscored its regional leadership in

Will tackle terrorism together: UAE backs India 

The UAE reaffirmed strong support for India’s fight against terrorism during a high-level Indian delegation visit, highlighting shared security goals and condemning cross-border terrorism after the Pahalgam attack. In a powerful show
Go toTop

Don't Miss

Hamdan oversees preparations for COP28

Sheikh Hamdan highlighted the importance of local and federal government

Tanzanian authorities warns drought caused by climate change

Tanzanian authorities have warned that prolonged drought in parts of