DUBAI Singapore will not be claiming from a fund that compensates countries for the loss and damage that they face arising from climate change.
Instead, it will support fellow countries from the Alliance of Small Island States (Aosis) to help them receive money from the fund, Minister for Sustainability and the Environment Grace Fu said on Dec 11.
Speaking to reporters outside the Singapore Pavilion at the United Nations COP28 climate talks, Ms Fu said the Republic will not claim from the fund despite investing heavily in coastal protection measures. Singapore has estimated that at least $100 billion will be needed in the long term to fight against rising sea levels.
"What we really want to see is help (given) to our fellow islanders, our brothers and sisters in Aosis, to help (them) tap these funds, as many face difficulties doing so due to a lack of technical capacity," she added.
At least US$790 million (S$1.06 billion) has been pledged to the historic loss and damage fund, which sees developed countries that have contributed largely to climate change paying developing countries for the climate-induced damages they are experiencing.
The fund will be hosted through the World Bank for the first four years.
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