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It is going to be a challenging and busy COP for summit president Sultan Al-Jaber, but with an inaugural $420m capitalisation of the Loss and Damage Fund announced on the first day, the multi-tasking Emirati came out swinging against his critics.
Al-Jaber’s role as chief executive of Abu Dhabi National Oil Company (Adnoc) has prompted allegations of a conflict of interest and abuse of COP for commercial, fossil fuel-related ends. But other agendas are afoot, and as COP has morphed into one of the world’s largest business conferences, the geopolitical horse-trading has further intensified.