Wealthy oil nation lays groundwork for ‘eye-popping’ climate fund

Creation of the fund would be one of the largest ever state-sponsored financial efforts to help countries fight climate change. And it comes as the UAE and Sultan al-Jaber, the CEO of the Abu Dhabi National Oil Co. who is leading the climate talks, have drawn criticism from environmental advocates and some U.S. and European lawmakers for hosting the international gathering despite being one of the world’s largest contributors of greenhouse gases.

The summit, known as COP28, starts on Nov. 30.

The fund would help fill a financial chasm to…