BAKU (Dunya News) - Prime Minister Shehbaz Sharif said that Pakistan suffered huge financial loss due to the climate change.
He was speaking at Climate Action Summit COP29 in Baku on Wednesday.
“Pakistan suffered the loss of $30 billion due to the catastrophic floods in 2022,” said PM Shehbaz Sharif in his key address.
He added that the crops were damaged at thousands of acres of land in result of the floods.
“The history will never forgive us over the inaction on climate change,” said the prime minister.
In his speech, the prime minister also talked about the threats posed to Pakistan by climate change and highlighted the country's efforts to tackle environmental risks. He also spoke about the responsibilities of developed countries and the establishment of a new fund in this regard.
The prime minister said that Pakistan also took concrete steps for the green energy.
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He also lauded PPP’s Senator Sherry Rehman for playing her role in the climate change.
Earlier, the prime minister had urged the world community to redefine the global climate finance to enable climate vulnerable and developing countries to meet their NDC goals, half of which may take around US $6.8 trillion by 2030.
He said on Tuesday that the developing countries needed to deliver to their masses on nationally-determined contributions (NDCs) that was why it was imperative to spur both ideas and discourse to make international climate finance more responsive, equitable and sufficient enough to address solutions at various scale enhancing effectiveness of climate finance.
Read More: PM Shehbaz reaches Baku to attend COP29 summit
Prime Minister Shehbaz Sharif underscored that the donor countries should fulfill their commitment to provide 0.7 per cent of their gross national income as developing assistance and capitalize existing climate funds.