Cuban Foreign Minister, Bruno Rodríguez, on X stated that a such designation still prevents the holding of the first meeting of this United Nations (UN) body, born in Dubai, United Arab Emirates (UAE), during the 28th Conference of the Parties (COP 28).
This delay prevents access to urgent resources by countries and people vulnerable to the harmful effects of climate change, the Cuban foreign minister remarked.
The Dubai agreement on financing to counteract the effects of climate change constituted a first firm step in the aid required by nations facing up adversities of climate change, UN experts said.
Establishing LDCF was a major achievement of COP 28 and considered by the UN Secretary-General (UNSG) Antonio Guterres as an essential tool for achieving climate justice.
The mechanism, which will be hosted by the World Bank, will have an independent secretariat and a 26-member board of directors for which the parties have already submitted nominations.