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Day one of COP28 in Dubai made history as delegates greenlit the loss and damage fund—a financial lifeline for vulnerable nations battered by climate disasters. But here's the twist: while this move is a win for climate justice, it's sparking fiery debates about accountability. Who should foot the bill—the industrialized Global North or the developing Global South? Let’s unpack this.
Why This Fund Matters Now
With climate costs soaring (think floods, droughts, and vanishing coastlines), the fund aims to balance the scales. María Fernanda Espinosa, former UN General Assembly president, calls it a 'moral imperative' for wealthy nations to lead. 'Those who fueled the crisis must repair it,' she argues.
Indigenous Guardians: 5% of People, 80% of Biodiversity
Meanwhile, Hindou Oumarou Ibrahim, a Chad Indigenous rights advocate, highlights a stark truth: 370 million Indigenous people globally are frontline climate warriors. 'Our knowledge protects forests and ecosystems,' she says. Yet their communities often face exclusion from climate talks.
The Big Question: Fairness or Empty Promises?
While the fund’s launch is progress, critics ask: Will the Global North step up? Or will this become another 'too little, too late' moment? With COP28 ongoing, all eyes are on how funds will flow—and who gets a seat at the table.
But here's the twist: while this move is a win for climate justice, it's sparking fiery debates about accountability. Who should foot the bill—the industrialized Global North or the developing Global South? Let’s unpack this. 
