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PM on COP27 Climate Fund

Climate Justice: Loss and Damage Fund

ISLAMABAD: Prime Minister Shehbaz Sharif took to the twitter to maintain 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 20th of November, 2022), the PM said it was up to the transitional committee to build on the historic development.

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

According to the Prime Minister Office, establishment of the ‘Damage and Loss’ Fund is a practical step towards climate justice.

Prime Minister Shehbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and Minister for Climate Change Sherry Rehman raised their voice for climate justice at the regional and global level.

Damage and Loss Fund will provide financial assistance to the countries suffering from floods and other climatic damages.

This will also help flood victims in Pakistan in rehabilitation and reconstruction process.

Earlier, Prime Minister Shehbaz Sharif attended the COP27 on the special invitation of the conference and the President of Egypt.

The Prime Minister co-chaired the round table conference on Climate Change on the topic of “Damage and Loss”.

He addressed the conference regarding damages of climate change and shed light on the ways to address the issue.

This fund will be a milestone in addressing the threats posed by climate change.

Foreign Minister Bilawal Bhutto Zardari on Sunday said that the establishment of the Loss and Damage Fund and financial arrangements to address the issue of climate justice, was a “major win” for Pakistan and all of the developing world.

The foreign minister, in a statement, said that “In monumental achievement for climate justice & G77 led by Pakistan, the COP27 has successfully concluded with loss and damage as part of the agenda including a fund and financial arrangements to address this issue.”

He congratulated Egypt’s Foreign Minister Sameh Shoukry for hosting a historic COP27.

The foreign minister said that having experienced first-hand the scale and devastation of Pakistan floods, they travelled to the United Nations General Assembly to advocate for climate justice.

He recalled that the Group of 77, chaired by him at the UN, unanimously adopted Pakistan’s proposal to demand loss and damage be part of the COP27 agenda.

Bilawal Bhutto said that in Egypt too, Pakistan’s proposal as chair of G77 to include language on loss and damage on the agenda had achieved consensus.

Upon conclusion of negotiations, we have sustained that consensus and also included necessary language on fund and financial arrangement, he added.

The foreign minister also mentioned his interactions with US Special Presidential Envoy for Climate John Kerry both in Egypt and over the phone in which he appreciated the leadership on climate, requested support for G77 and demand the inclusion of financial arrangements to tackle loss and damage which led to a compromise.

The foreign minister paid special gratitude to all members of G-77 and China for their continued support and trust in Pakistan’s leadership.

“A special shout-out to team Pakistan at COP27. The team of the foreign ministry and climate change ministry led by Minister Sherry Rehman, under the leadership of Prime Minister Shehbaz Sharif delivered a major win on the world stage,” he commented.

The foreign minister championed the cause of loss and damage for developing countries vulnerable to climate change, which was endorsed by G77 and China Meeting of foreign ministers in New York chaired by him.

“This is a major win for Pakistan and all of the developing world.” Bilawal Bhutto Zardari remarked.

Sherry Rehman Tweeted: “It’s been a long 30-year journey from demand to formation of the Loss & Damage Fund for 134 countries. We welcome today’s announcement and joint text hammered out thru many nights. It’s an important first step in reaffirming the core principles of #climatejustice@COP27P.

“Now that the Fund has been established, we look forward to it being operationalised, to actually become a robust body that is able to answer with agility to the needs of the vulnerable,the fragile & those on the frontline of climate disasters.

“The announcement offers hope to vulnerable communities all over the world who are fighting for their survival from climate stress. And gives some credibility to the COP process. Now it’s up to transitional committee to move it forward by December 2023 as decided.

“Deeply appreciate the long hours,commitment put in by our dedicated teams of group chairs,SIDS, AILAC, LDCs, LMDCs, AIOSIS,our Amb Nabeel + teams for G 77 + China,civil society champions for holding the line and delivering the unity needed at such a pivotal moment in history.”

Radio Pakistan

Newspakistan.tv

Anum Mashkoor

Anum Mashkoor is writing for Newspakistan.tv since Sept 2018, particularly on Environment-related matters.