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STORY: The U.N. climate summit clinched an early victory on Thursday, (November 30) with delegates adopting a new fund to help vulnerable nations cope with cost of climate driven disasters.The deal was adopted following the COP28 opening ceremony in Dubai and already follows many months of negotiations.But some groups were cautious, noting there were still unresolved issues including how the fund would be financed in the future.The United Arab Emirates will contribute $100 million to the pot, along with other countries contributing a total of just over $300 million.Germany pledged $100 million and the United States $17.5 million, with hopes the amount would build to a substantial sum.The early breakthrough on the damage fund - which poorer nations have demanded for years - could help grease the wheels for other compromises.Earlier in the day COP28 president, Sultan al-Jaber - who is also the CEO of the UAE’s national oil company - opened the summit urging countries and fossil fuel companies to work together to meet global climate goals.Al-Jaber aimed to strike a conciliatory tone following months of criticism over his appointment as the head of COP28."Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies. We had many hard discussions, let me tell you, that wasn't easy, but today many of these companies are committing to zero methane emissions by 2030 for the first time.""And now many national oil companies have adopted net-zero 2050 targets for the first time and I am grateful they have stepped up to join this game-changing journey. And I must say, it is not enough, and I know that they can do much more."Over the next two weeks governments will also debate whether to agree, for the first time, to phase out use of CO2-emitting coal, oil and gas globally - the main source of emissions.Also on the agenda is what’s known as the "global stocktake".This is when countries assess their progress in meeting global climate goals.The main one being the Paris Agreement goal of limiting global warming to well below 3.6 degrees Fahrenheit (2 degrees Celsius).
