Sultan Al Jaber hails German commitment to $100bn climate finance target

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In recent news, it appears that wealthy countries are ready to provide increased financial support to help developing countries combat climate change. This marks the first time since the Paris Agreement was signed that the $100 billion target will be surpassed. The President-designate of Cop28, Dr. Sultan Al Jaber, recently spoke alongside German Foreign Minister Annalena Baerbock, expressing confidence that this target will be met ahead of the summit in the UAE at the end of November.
The Petersburg Climate Dialogue recently concluded with a meeting of 40 countries in Berlin. Chancellor Olaf Scholz addressed the final session and expressed that the rapid change and transformation that Germany and the UAE have achieved over the past year show what is possible in the coming decade. He praised the UAE for being well on the way to becoming the biggest leading user of renewable energies after being the largest exporter of fossil energies. This shift to climate-neutral values and technologies is especially remarkable given the UAE's reliance on fossil energies in the past.
Overall, it is promising to see that wealthy countries are committed to supporting the fight against climate change in developing countries, and it will be exciting to see the progress made at the upcoming summit in the UAE.

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