Norway’s Prime Minister Jonas Gahr Store announced a $25 million contribution to the Loss and Damage Fund (LDF) on the third day of COP28.

Store made the announcement about the contribution of Norway, for which oil and gas make up more than half of all exports, at plenary session held Saturday. The country is also the third largest exporter of natural gas and produces 2% of the world’s oil.

The same plenary sessions also heard from Nepal’s Prime Minister Pushpa Kamal Dahal, who said climate change was ‘torturing’ his country’s mountains and had caused the loss of one third of its glaciers.

Nepal receives a disproportionate impact of climate change despite near zero contribution to global emissions and was vulnerable to natural disasters such as landslides, he said.

The country faces technological challenges to its attempts to adapt and is in need of greater technological and financial support to reach its ambition of net zero by 2045, Dahal said, and asked for the LDF to be made more predictable for its access to countries in need of support.

(Reporting by Imogen Lillywhite; editing by Brinda Darasha)
imogen.lillywhite@lseg.com