In the following lines, we review the most important achievements so far:

COP28 mobilized more than $83 billion in financial commitments to climate action in the first five days, setting a new record pace and signaling a potential shift toward a new era of global cooperation on climate change.
These include the first-ever announcements on food systems transformation and health, as well as announcements on renewable energy and efficiency, as well as initiatives to decarbonize emission-intensive heavy industries.
• Eleven pledges and declarations received historic support.
The COP28 Presidency facilitated a historic agreement to activate the Climate Impact Loss and Damage Fund on day one, with $726 million already pledging.
• The UAE has launched a $30 billion Climate Finance Stimulus Fund (ALTÉRRA), which aims to catalyze the collection and investment of $250 billion by 2030.
• Allocate $150 million from the UAE to solve problems related to water resource shortages and water security solutions in the world's fragile and vulnerable communities.
The World Bank announced an increase of $9 billion annually to finance climate-related projects. Other multilateral development banks also reported a cumulative increase of more than $22.6 billion in favor of climate action.
• Announcement of $3.5 billion for the replenishment of the Green
Climate Fund • Announcement of $133.6 million for the Adaptation
Fund • Announcement of $129.3 million for the Least Developed Countries Fund and $31 million for the Special Climate Change Fund (SCCF)

The pledges and declarations approved to date are as follows:

  • The Global Renewable Energy and Energy Efficiency Pledge has been approved by 123 countries.
  • The UAE's statement on agriculture, food and climate COP28 has received the approval of 140 countries. (+1 since yesterday)
  • The UAE Declaration on Climate and Health (COP28) has been approved by 132 countries. (+3 since yesterday)
  • The UAE Declaration on Climate Change, Recovery and Peace was approved by 75 countries and 40 organizations.
  • The UAE Declaration on Climate Finance (COP28) has been approved by 13 countries.
  • The alliance (high-ambition multi-level partnerships) has been pledged and supported by 64 countries.
  • The oil and gas decarbonization charter was approved by 52 companies, which account for 40 percent of global oil production.
  • The Industrial Transition Accelerator has been approved by 35 companies and 6 industry associations, including the World Steel Association, the International Aluminium Institute, the Global Renewable Energy Alliance, the World Cement and Concrete Association, the Oil and Gas Climate Initiative and the International Air Transport Association.

How were pledges and financial contributions distributed?

  • Loss and damage fund: $726 million (+$600k from Iceland yesterday)
  • Green Climate Fund: $3.5 billion (increase of second replenishment to $12.8 billion).
  • Adaptation Fund: $133.6 million
  • Special fund for least developed countries: $129.3 million
  • Special Climate Change Fund (SCCF): About $31 million (new since yesterday).
  • Renewable energy has secured financing pledges of $7.5 billion as of yesterday.
  • Cooling pledges to $25.5 million, Clean Cooking received $30 million in funding, and Technology received $568 million.
  • Methane emissions pledges received $1.2 billion in funding
  • The climate economy has a contribution of $30 billion from the UAE, $200 million from the country's Special Drawing Rights (SDRs) to the IMF, and $32 billion from multilateral development banks.
  • Food pledges received $2.6 billion in funding
  • Nature pledges on $2.6 billion
  • Water pledges $150 million and type pledges over $2.8 million.
  • Relief, Recovery and Peace Pledge raised $1.2 billion in funding
  • Local climate action pledged $467 million.