meed-logo

line1 line2 line3
SIGN IN / REGISTER

Cop28 boosts coastal community climate role

12 December 2023

Of the $83.9bn in funding commitments made during the first 11 days of the Cop28 UN climate summit, $467m has been allocated to local climate action, in addition to $134m for adaptation, $129m for least-developed countries and $30bn for climate finance.  

The Loss and Damage Fund has also attracted commitments of over $720m, with more expected to come.

These financial commitments will benefit local communities globally that have been taking the brunt of extreme weather events such as floods and droughts.

"The Cop28 summit in Dubai has recognised that the success of nearly all agreed climate measures and funding will depend on local and sub-national government implementation," says Alfredo Coro II, mayor of Del Carmen municipality in the Philippines' southern Siargao Islands.

Coro attended the Local Climate Action Summit, which was organised as part of the Cop28 conference.

"We recognise [former New York City mayor] Michael Bloomberg's role in pushing for mayors to be at the forefront of discussions on climate change actions, policies and funding," Coro tells MEED.

"We hope our network… will be able to attract global organisations to listen and respect the innovations of small coastal communities to address climate change impact on oceans and support sustainable fishing, as well as coastal management."  

Coro also represents the Costal500, an alliance of mayors and other local government leaders from countries including Brazil, the Federated State of Micronesia, Guatemala, Honduras, Indonesia, Mozambique, Palau and the Philippines.

The Coastal500 alliance aims to serve as a platform for scaling climate adaptation and climate solutions in small local communities around the world.

"The local governments implement the climate action and they also absorb all the loss and damages," says Coro. "Recognising local governments in Cop28 will … play a major role in the discussions of operationalising the Loss and Damage Fund, from global finances to national government funds."

A total of 200 countries agreed to set up the Loss and Damage Fund at Cop27 last year, nearly 30 years since it was first discussed at a Conference of the Parties of the UN Framework Convention on Climate Change (Cop).

Cop28 announced operationalising the fund on 30 November, with the UAE and Germany each pledging $100m towards the fund; the UK pledging $75m; and the US, which has previously pushed back on the fund, planning to contribute $17.5m.

France and Italy each pledged $108m, Denmark pledged $50m, Norway committed $25m, and Japan and China each pledged $10m. 

According to Coro, the Coastal500 members have already proven case studies that, when replicated, will be able to help mitigate and adapt to the impacts of climate change on a family and community level.

He cites as an example an integrated climate adaptation and mitigation strategy in his municipality. "We rehabilitated our mangrove ecosystem and conducted investments to prepare our communities and local government," he explains.

These helped to minimise the loss of life when super typhoon Rai made landfall in the Siargao Islands in December 2021. However, the typhoon heavily damaged the islands' Climate Field School, which was funded by a climate adaptation fund in the Philippines.

"We hope that localising the policies and practices will give local governments the courage to demand the needed access to financing potential loss and damages that have direct consequences to their respective constituency and community," Coro says.

Drop in the ocean

The final mechanisms for the Loss and Damage Fund have yet to be finalised. It remains unclear whether the funds will be disbursed as loans or grants.

Unlike climate mitigation and adaptation projects that aim to reduce carbon emissions and improve community responses to extreme weather events, the Loss and Damage Fund intends to help communities that have already suffered losses such as flood-damaged bridges or dams and agricultural crop revenues.

Rich, carbon-emitting countries are the expected main sources of the fund, although China, the world's top carbon emitter, which is a developing country, could technically qualify both as a source and recipient of the fund.

While operationalisng the fund has been considered a breakthrough, some critics have said that the pledges so far amount to only 0.2 per cent of what is needed to address the problem.

"The millions promised for the Loss and Damage Fund at Cop28 are a drop in the ocean of what is needed," notes Lien Vandamme, a senior campaigner at the Centre for International Environmental Law.

“Hundreds of billions of public, grants-based, new and additional money is needed, and we cannot call this Loss and Damage Fund a success as long as this is lacking,” she added.

Mena extreme weather

Several countries in the Middle East and North Africa (Mena) region have recently suffered major calamities that can be directly linked to climate change. 

Thousands of people were feared to have drowned when a storm swept through Derna in eastern Libya on 11 September. Heavy rains from Storm Daniel caused a water dam about 12 kilometres from Derna to fail, sending water down a valley and overwhelming a second dam closer to the city.

The storm was called a Medicane – a portmanteau for Mediterranean and hurricane – which experts said drew enormous energy from extremely warm seawater. A warmer atmosphere is also understood to hold more water vapour that can fall as rain.

Photo: Pixabay

https://image.digitalinsightresearch.in/uploads/NewsArticle/11363941/main.jpg
Jennifer Aguinaldo

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Kuwait tenders oil manifold project

    24 June 2026

    State-owned upstream operator Kuwait Oil Company (KOC) has tendered a contract to construct remote header manifolds and associated works in the southern and eastern regions of Kuwait.

    A meeting with prospective contractors has been scheduled for 21 July 2026, and bids are due to be submitted ahead of a deadline on 20 September 2026.

    Manifolds are devices used in the oil sector to divide the flow of liquids from a single source to several outlets, or to collect liquids, or vice versa.

    Previously, a project with a similar scope in the same region was awarded to the Kuwaiti contractor Al-Ghanim International General Trading & Contracting.

    In 2016, it signed a contract worth $435m to construct remote header manifolds and associated works in the south and east Kuwait areas.

    The scope of that contract included design, procurement, construction and commissioning of 25 remote manifold stations and associated pipelines in south and east Kuwait using multi-phase pumps to deliver liquids to gathering centres.

    Kuwait’s oil fields are connected to more than 25 gathering centres, which serve as collection points for crude oil produced by several wells connected by flowlines, providing initial treatment by separating associated gas and removing salt.

    READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDF

    GCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.

    Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17409564/main.jpg
    Wil Crisp
  • Contractors win deals for Saudi Energy transmission projects

    23 June 2026

     

    Saudi Arabia-based Haif Company has won contracts for two separate substation projects in Saudi Arabia, according to sources.

    The first involves the construction of a 132/33/13.8kV substation for Saudi Energy, formerly Saudi Electricity Company, which will replace the existing Tabuk substation 2 in Tabuk, northwestern Saudi Arabia.

    The works include the construction of a new substation, along with GIS, transformers, switchgear, capacitor banks, MV/LV cable systems and protection infrastructure.

    Ten firms submitted bids for the project last December. The bidders included:

    • Al-Babtain Contracting (Saudi Arabia)
    • Alfanar Projects (Saudi Arabia)
    • Al-Gihaz Holding (Saudi Arabia) 
    • Al-Osais International Holding (Saudi Arabia)
    • Danway Electrical & Mechanical Engineering (UAE)
    • Haif Company (Saudi Arabia)
    • Mohammed Al-Ojaimi Group (Saudi Arabia)
    • Nesma Infrastructure & Technology (Saudi Arabia)
    • Saudi Services for Electro Mechanic Works (Saudi Arabia)
    • Tareg Al-Jaafari Contracting Est (Saudi Arabia)

    In addition to Tabuk, Saudi Energy is planning several power transmission projects in Al-Jouf, Medina and the Eastern Province as part of the kingdom’s push to upgrade its electricity transmission and distribution infrastructure

    The second Haif contract involves a 132/33kV substation project at Hail to support the integration of solar generation from the Al-Kahfah photovoltaic facility into the network. Together, the projects are valued at about $90m.

    Elsewhere, the local Trading & Development Partnership has been appointed to build a 132/33kV substation at Al-Jouf, in Al-Jouf Province.

    The facility will deliver a transmission capacity of about 168 MVA to the Al-Busitaa agricultural site, supporting the Liquid Fuel Displacement Programme, which aims to reduce reliance on diesel generators and fuel oil for power generation.

    Nine bids were submitted for the project last year.

    According to MEED Projects, Saudi Energy has almost $2.3bn-worth of projects currently under bid evaluation, including the 500kV overhead transmission line, approximately 466km long, for the Eastern Operating Area and the Central Operating Area in the Eastern Province. The main contract is expected to be awarded later in 2026.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17397346/main.jpg
    Mark Dowdall
  • Consortium wins $1bn Saudi healthcare PPP project

    23 June 2026

    Saudi Arabia’s Ministry of Health and the National Centre for Privatisation & PPP (NCP) have awarded a public-private partnership (PPP) contract for the operation and management of the Sabic Specialised Behavioural Healthcare Hospital in Riyadh.

    The contract was awarded to SEH Healthcare, a consortium comprising local firms Specialised Medical Company (SMC Healthcare) and Health Gates Complex, and Germany’s Dr Ebel Fachkliniken.

    In a stock exchange filing on the Tadawul, SMC Healthcare said the total estimated project value is about SR3.8bn ($1bn).

    “The scope of the contract includes medical and non-medical operations and maintenance, facility management, equipment management, and specialised clinical and non-clinical services in mental health and addiction treatment,” the statement added.

    The contract term is 15 years.

    The facility spans about 62,500 square metres and includes 150 beds, 19 outpatient clinics and six dedicated day-care rooms, as well as specialised services in mental health, addiction treatment, rehabilitation and aftercare.

    The project is the latest healthcare project to be procured on a PPP basis in the kingdom. In May, Saudi Arabia’s Ministry of Health, the Ministry of Defence and the NCP issued an expression of interest and request for qualification notice for the Chronic Kidney Disease Care and National Dialysis Services project.

    The NCP said the initiative supports Saudi Vision 2030 by increasing private sector participation in the healthcare sector.

    In January, Saudi Arabia launched a National Privatisation Strategy, which aims to mobilise $64bn in private sector capital by 2030.

    The strategy builds on the privatisation programme first introduced in 2018. It will focus on unlocking state-owned assets for private investment and privatising selected government services.

    In a statement, NCP said the new strategy comprises 147 opportunities drawn from a broader pipeline of more than 500 projects across 18 sectors.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17396605/main.jpg
    Yasir Iqbal
  • Morocco approves Khalladi wind farm expansion

    23 June 2026

    Acwa Maroc, a subsidiary of Saudi developer Acwa, has secured approval to expand the Khalladi wind independent power project (IPP) in northern Morocco by 40MW.

    The extension will increase the project’s total installed capacity from 120MW to 160MW. The Khalladi wind farm is located at Djebel Sendouq, about 50 kilometres from Tangier. The existing facility comprises 40 wind turbines rated at 3MW each.

    The project operates under Morocco’s Law 13.09 renewable energy framework, which allows private renewable energy firms to develop generation assets and supply electricity directly to industrial consumers.

    According to Acwa’s website, the facility entered commercial operation in 2018 and supplies electricity to Morocco’s state-owned utility Onee and large industrial customers under a 20-year power-purchase agreement.

    Acwa holds a 51% stake in the project alongside Participation Khalladi SA (24%) and ARIF North Africa Investment SARL, an infrastructure investment fund managed by France’s Amundi (25%).

    The engineering, procurement and construction contract was executed by Denmark’s Vestas, France’s Cegelec and Morocco’s Stam and AGTT.

    Morocco is targeting renewables to account for 52% of its installed power generation capacity by 2030.

    The operational wind farm generates about 397GWh of electricity a year. It is understood that the expansion project has already entered the development phase.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17394999/main5046.jpg
    Mark Dowdall
  • Libya plans to distribute oil budget in July

    23 June 2026

     

    Libya’s National Oil Corporation (NOC) has communicated to contractors in the country that it is expecting funds from the country’s budget to be distributed to state-owned oil companies in July, according to industry sources.

    Earlier this year, the country’s rival legislative bodies approved a unified state budget for the first time in more than 13 years.

    The Central Bank of Libya confirmed on 11 April that both chambers had endorsed the budget, calling it a key step towards restoring financial stability after prolonged division.

    The total budget was valued at LD190bn ($29.95bn), and LD12bn ($1.9bn) was allocated to the country’s NOC.

    An additional LD40bn ($6.3bn) was allocated for “development projects”.

    At the time, Libya stated that a joint committee had been formed to help prioritise development projects, and the projects had been listed in the budget.

    Over the past decade, the country has had two rival governments; the last time the country operated under a single national budget was in 2013.

    The country’s two legislatures are the eastern-based House of Representatives and the Tripoli-based High Council of State.

    As a result of the US and Israel’s war with Israel, there has been significant disruption to shipping through the Strait of Hormuz, which normally transports around 20% of the world’s oil and gas exports.

    This has driven global energy prices higher, with Brent hitting more than $114 a barrel in May this year.

    The price of Brent remains 10% higher than prior to the US and Israel attacking Iran on 28 February.

    Libya is well-positioned to capitalise on the ongoing uncertainty around exports via the Strait of Hormuz, as energy-importing nations seek reliable oil and gas supplies.

    The North African country is located near Europe, with several large oil and gas export ports and a pipeline that transports gas to Italy.

    Libya has the largest oil reserves in Africa, but has struggled to implement projects to develop them over recent years due to political infighting and security problems.

    READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDF

    GCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.

    Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17389246/main2010.jpg
    Wil Crisp