COP27 summit agrees for establishment of fund to help climate affected countries

PM,FM,lauds Loss & Damage Fund as a “first pivotal step” to climate justice

 

 

SHARM EL-SHEIKH- The COP27 UN Climate summit has reached a breakthrough agreement on establishment of a fund to help poor countries affected by climate disasters and vulnerable to the adverse effects of climate change.

Representatives of nearly two hundred nations participating in the summit termed the agreement a step forward in the fight against climate change.

The COP27 draft agreement reaffirms to limit global warming to 1.5 degrees Celsius to prevent the worst effects of climate change.

Commenting on the agreement, Pakistan’s lead negotiator for the G77 group of developing countries Nabeel Munir said we are satisfied that at least there is something on the plate now.

In this regard, Prime Minister Shehbaz Sharif said that establishment of loss and damage fund at the UN climate summit is the first pivotal step towards the goal of climate justice.

In a tweet today (Sunday), he said it is up to the transitional committee to build on the historic development.

The Prime Minister appreciated the Minister for Climate Change and her team for their contribution and hard work.

It is up to the transitional committee to build on the historic development. I appreciate (Minister for Climate Change) Sherry Rehman and her team for their contribution and hard work,” the prime minister remarked.

The prime minister along with his cabinet members including Foreign Minister Bilawal Bhutto Zardari and Climate Change Minister Senator Sherry Rehman had raised the voice for climate justice at the regional and global levels.

The Fund would lead to the provision of assistance to the countries impacted by climate change. It will also support Pakistan in the rehabilitation of the flood-affected people and the reconstruction of the damaged infrastructure.

According to a PM Office statement, the COP27 made history by taking a practical step comparing the Paris Accord and Green Marshal Plan.

FO Bilawal Bhutto Says,

In his reaction, Foreign Minister Bilawal Bhutto recalled that Pakistan had stressed on the climate justice at world fora because it was the most affected due to climate-induced disasters. But they fought for the whole world, he added.

Bilawal said there was need to lay focus on the children caught up in the flood devastation. “One-third of the 33 million people hit by the recent heavy floods were children,” he added.

Bilawal Bhutto dubbed the setting up of climate fund as a welcome development. “In monumental achievement for climate justice & G77 led by COP27 has successfully concluded with loss & damage as part of the agenda. including a fund & financial arrangements to address this issue. I congratulate FM Shoukry, President COP27P for hosting a historic COP.”In a string of tweets, Bilawal said “Having experienced first hand the scale and devastation of Pakistan floods we travelled to the #UNGA to advocate for climate justice. When I chaired Group of 77 at the UN Pakistan’s proposal was unanimously adopted to demand loss and damage be part of COP77 agenda.He recalled “In Egypt, we were happy to report that Pakistan’s proposal as chair G77 to include language on loss and damage on the agenda had achieved consensus. Upon conclusion of negotiations we’ve sustained that consensus & also included necessary language on fund & financial arrangement

Furthermore, Minister for Climate Change Sherry Rehman while addressing the G77 meeting at COP27 in Sharm El-Sheikh, Egypt also termed establishment of the fund a positive milestone in fight against climate change.

The Minister expressed hope that developing countries will be provided technical assistance to avert and minimize the impact of climate change.

She expressed concern over the lack of progress on the deficit and financing the formulation and implementation of national adaptation plans.

She said these are crucial tools for countries struggling to build resilience against climate stress.

Sherry Rehman reiterated that G77 and China will continue to support the climate change negotiation process in forging common ground for reclaiming our planet for our future generations.

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