By Linda Kwanjana
Malawi is expected to benefit from the $174 million which has been pledged by developed countries, to go towards the Least Developed Countries Fund (LCDF) and Special Climate Change Fund (SCCF) during the on-going COP 28 in Dubai, United Arab Emirates.
Representing President Lazarus Chakwera, Malawi’s Minister of Natural Resources and Climate Change, Michael Usi, spoke at a high-level pledging session, urging developed nations to expedite processes for resource release.
Usi emphasized the growing pressure on Least Developed Countries (LDC) economies due to the intensity of climatic events tripping every year.
“Our budgets are constrained, disasters are coming in waves every year and economic losses are on the surge, therefore, we cannot afford to wait longer than necessary” said Usi.
Germany, Norway, Spain, and Switzerland are among the countries that have made pledges, with more commitments expected.
The COP28 Climate Conference, hosting delegates from nearly 200 countries, business and finance leaders, and civil society representatives, commenced on November 30 and is slated to conclude on December 12.
COP28’s primary focus is fast-tracking the transition to a clean-energy future, stressing the importance of collective action to combat climate change and underscoring the crucial role of finance in the low-carbon transition.
