£2 million loss and damage pledge unlocks over $650
million globally.
First Minister has joined global leaders and
outlined Scotland's ambitions to tackle the climate crisis during
COP28, as the global sum committed to addressing loss and damage
reaches over $650 million.
Over the course of his trip the First Minister joined His Majesty
King Charles III to officially open a new Heriot-Watt Dubai
Campus and made the keynote speech at Global Ethical Finance
Initiative’s (GEFI) Climate Finance Summit.
He also hosted a St Andrew’s Day reception with some of
Scotland’s food and drink industry leaders and joined the
Scottish business delegation to discuss their work to attract
investment in strategic net zero sectors across the country.
New funding to provide clean and reliable energy in Scotland’s
partner countries Malawi, Zambia and Rwanda was also announced
and further detailed how the £2 million from Scotland’s Climate
Justice Fund will help tackle loss and damage in climate
vulnerable communities.
During various meetings and engagements with world leaders,
activists and communities he reiterated Scotland’s commitment to
climate action, renewable energy and a just transition to net
zero.
First Minister said:
“At COP26 in Glasgow, Scotland became the first developed nation
in the world to commit funding to address loss and damage. That
£2 million commitment ignited a debate and showed global
leadership. Despite being a relatively small amount in the
context of the overall challenge, that commitment now shows that
the voices of small nations are crucial for climate justice and
can make a big difference.
“Since then, we have shown further solidarity with those who have
been campaigning on loss and damage for some time, and urged
other countries to commit the finance needed to address the
challenge - and I am encouraged by the progress already made on
loss and damage at this COP.
“It shows that Scotland can play our part on the world stage, and
we have the influence and global standing to turn a £2 million
investment into over half a billion dollars worth of funding from
some of the most powerful nations in the world, like Germany, the
USA, and the UAE, in just two years.
“However, it is absolutely imperative that this funding follows
Scotland’s example and is prioritised to meet the needs of the
communities who need it the most, equitably, transparently and
distributed in a way that does not add to the debt burden of
Global South countries. We also hope to see progress on a just
transition from fossil fuels to renewables in the final
agreement.
“The decisions made at COP28 affect the prosperity, health, and
wellbeing of all of us and it is no understatement to say the
action that world leaders take now is vital to the future of the
planet we share. I want to send my best wishes to the negotiating
teams for what I hope will be a successful outcome of the
summit.
“Outside of the formal negotiations which are ongoing, Scotland
continues to play a bridging role in bringing together young
climate activists, women, and under-represented voices from the
Global South to the table. It’s essential that those voices
continue to be listened to, and even more importantly,
heard.
“We are at a crucial juncture, and as one of the nations that led
the world into the industrial age, it is vital that Scotland
continues to take a leading role in the just transition to net
zero. We will continue sharing our expertise, and learning from
our friends and partners on this journey to keep global warming
limited to 1.5 degrees - an ambition which has never been more
urgent.”
