Good morning, the sun is rising here in Dubai as we get ready for the first day of the World Climate Action Summit. 

Yesterday was already pretty eventful with world leaders approving the Loss and Damage fun. This fund is intended to help vulnerable nations cope with the impact of climate change.

An agreement opened the door for countries to start pledging contributions too. 

The “substantial” contribution to the fund promised by the EU amounts to an initial commitment from member states of $245.39 million (€224.98 million)  – including $100 million (€91.68 million) from Germany alone. 

Host country the UAE put in another $100 million, the UK at least $51 million and $17.5 million from the US. 

COP28 president Sultan Al Jaber called the approval of the Loss and Damage fund a “positive signal of momentum” at the opening ceremony of the conference yesterday. 

Now the focus turns to fossil fuels and the crucial debate over a phase out or phase down.

“Record global heating should send shivers down the spines of world leaders,” UN Secretary General Antonio Guterres said yesterday. 

He added that they should commit to “phase out fossil fuels, with a clear time frame aligned to the 1.5-degree limit.”

Britain’s King Charles III is also due to address the summit today after arriving in Dubai yesterday. It will be the first time he as given a major speech on climate change since becoming King in September 2022. 

Follow along on our live blog for the latest updates from the UN climate conference in Dubai.