Shafaq News/ On Friday, UAE's President Mohammed bin Zayed Al Nahyan revealed the establishment of a groundbreaking $30 billion fund dedicated to climate solutions on a global scale. The announcement occurred during the opening speech at the COP28 conference held in Dubai.

President Al Nahyan outlined that the fund's primary objective is to catalyze the collection and investment of an impressive $250 billion by the year 2030.

Addressing the audience, he emphasized the world's pressing challenges, with climate change standing out as a paramount issue affecting every facet of life.

The announcement aligns with the broader goals of COP28, where world leaders and stakeholders convene to discuss strategies, policies, and collaborative efforts to mitigate the adverse effects of climate change.

The United Nations' annual climate change conference, known as COP28, has commenced in Dubai, hosted by the United Arab Emirates (UAE). The conference brings together global leaders, ministers, and negotiators to formulate strategies for addressing climate change challenges.

Participating governments, signatories to the UN Framework Convention on Climate Change, the Kyoto Protocol, and/or the Paris Agreement engage in crucial discussions. The event, scheduled from November 30 to December 12, 2023, also draws thousands of representatives from civil society, the private sector, international organizations, and the media.