Financial pledges of $777 million during COP28

The financial pledges made at COP28 to contribute to efforts to confront the climate crisis constitute a strong boost to climate action at the global level.

The pledges express the spirit of solidarity and cooperation between the states parties in confronting the greatest challenge threatening humanity and the planet. These pledges emphasize the pioneering and responsible role played by the United Arab Emirates in supporting climate and green efforts, and reflect its commitment to addressing climate challenges and transitioning to green and resilient economies.

$777 million

On Sunday, December 3, 2023, international donors pledged to provide more than $777 million to combat neglected tropical diseases and improve the lives of 1.6 billion people. The pledge came during a session of the “Reaching the Last Mile” forum on the sidelines of the “COP 28” climate conference, which witnessed leaders discussing... Global and international institutions solutions to climate change, and the threat posed by neglected tropical diseases.

The Last Mile Reach Fund (RLMF), founded by UAE President Sheikh Mohammed bin Zayed, joined the Gates Foundation and global partners to announce a major expansion of the fund from $100 to $500 million. The alliance aims to eliminate two neglected tropical diseases. Two devastating diseases include river blindness and lymphatic filariasis, commonly known as “elephantiasis,” which causes painful swelling of the extremities.

Dignified future for all

UAE Foreign Minister Sheikh Abdullah bin Zayed said, “Today’s display of global solidarity reflects the shared determination to achieve a better and more dignified future for all. “The amazing progress made over the past two decades has proven that a world free of neglected tropical diseases is an achievable goal.”

For his part, Microsoft founder Bill Gates said: “I thank the President of the Emirates, Sheikh Mohammed bin Zayed, and the people of the Emirates for hosting us. “You have done an amazing job, and the partnership we have built in global health over many years.”

The “Reaching the Last Mile Fund” was launched in 2017 to eliminate two specific neglected tropical diseases in six countries, six of which are in Africa, in addition to Yemen. Since its launch, more than 100 million courses of treatment have been provided to people in need.

UAE President Sheikh Mohammed bin Zayed Al Nahyan announced the establishment of a $30 billion fund for climate solutions worldwide, which is designed to bridge the climate financing gap and facilitate access to it at an appropriate cost, while aiming to stimulate the collection and investment of $250 billion by 2030.

It is noteworthy that the UAE has a long track record in climate action, and over the past decades it has built its capabilities in renewable and clean energy, and set a national path to reach climate neutrality by 2050, while committing to reduce emissions by 40% by 2030.