In a resounding call to action, the director general of the upcoming COP28 climate summit in Dubai,
Majid Al Suwaidi, has highlighted the pressing need for developed nations to honor their commitment to
providing $100 billion annually to support emerging-market countries in their battle against climate
change. The global community remains significantly distant from achieving the climate objectives set
forth in the Paris Agreement for 2030. Majid Al Suwaidi emphasizes that channelling resources towards
developing nations is not just integral but imperative in meeting these objectives.
“We must engage in comprehensive investments spanning all feasible solutions that can guide us back
on the trajectory of meeting our climate goals,” stated Al Suwaidi during an interview on Tuesday, August
8th, while participating in the Amazon Summit in Brazil. He further asserted, “It is paramount that the

pledged $100 billion is disbursed this very year.” The call resonates with Brazil’s President Luiz Inacio Lula
da Silva, who has consistently advocated for the accountability of developed nations in honoring their
commitments toward climate financing.
These financial commitments, while substantial, fall short of the extensive funding required to effectively
prevent global temperatures from exceeding a 1.5 degrees Celsius (2.7 degrees Fahrenheit) rise. It’s
worth noting that the bulk of forthcoming emissions will originate from emerging economies, often
grappling with limited resources to allocate to climate mitigation endeavors. “This is an obligation that
has been long-standing, and it is incumbent upon us to fulfill it,” asserted Al Suwaidi. He stressed the
urgency of concerted efforts, stating, “We must exhaust all avenues in our pursuit of this objective.”