Japan Pledges ¥1.5 bil. to Loss and Damage Fund at COP28 Climate Summit

United Arab Emirates COP 28 President Sultan Ahmed Al Jaber speaks during the climate conference in Dubai on Thursday.

DUBAI — Japan has pledged $10 million (about ¥1.5 billion) toward a loss and damage fund to help developing countries cope with global warming at a U.N. climate conference in Dubai.

The 28th session of the Conference of the Parties (COP28) to the U.N. Framework Convention on Climate Change started Thursday.

At last year’s COP27, participating countries agreed to create a fund to aid developing countries vulnerable to climate-related natural disasters such as droughts and floods.

Management of the fund featured on Thursday’s agenda, and the United Arab Emirates and Germany each pledged $100 million (about ¥15 billion) to start.

A representative of the Japanese government said the country hopes the fund will be launched as soon as possible, and pledged $10 million.

The United Kingdom and United States also announced they would pay into the fund.

Meanwhile, the World Meteorological Organization said that this year’s global average temperature was set to be the warmest in 174-years of recorded scientific observations.

At the COP28 summit, which runs through Dec. 12, representatives from 198 countries and regions will discuss measures to combat global warming. Prime Minister Fumio Kishida will attend a meeting with world leaders on Friday and Saturday.