COP27 summit agrees for establishment of fund to help climate affected countries
Pakistan
COP27 summit agrees for establishment of fund to help climate affected countries
SHARM EL-SHEIKH (Dunya News) - 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.
— Shehbaz Sharif (@CMShehbaz) November 20, 2022
The Prime Minister appreciated the Minister for Climate Change and her team for their contribution and hard work.
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.
