COP28 launches climate 'loss and damage' fund

The UN's COP28 climate conference formally launched on Thursday a "loss and damage" fund long sought by vulnerable nations devastated by natural disasters linked to global warming.

The UAE's COP28 president Sultan Al Jaber told that his country was committing $100 million to the fund. Germany also pledged $100 million. Its launch on the first day of COP28 in Dubai with more than 70,000 delegates from around the globe attending the conference.

With global temperatures hitting record highs and extreme weather events affecting people around the globe, the UN describes this year's COP28 as "a pivotal opportunity to correct course and accelerate action to tackle the climate crisis."