Pakistan's Successful Advocacy Helps Getting Financing For Loss, Damage At COP27: Suleri

ISLAMABAD, (UrduPoint / Pakistan Point News - 8th Nov, 2022 ) :Executive Director, Sustainable Development Policy Institute (SDPI) Dr Abid Qaiyum Suleri on Monday said the successful advocacy of Pakistan as chair of G-77 plus China forum at COP27 in Egypt helped in getting dedicated financing for loss and damage at the agenda of the global environmental moot.

The SDPI Executive Director in a tweet shared the developments of the day one from the 27th Conference of Parties (COP-27) venue in Sharm El-Sheikh, Egypt through his video message.

He also wrote, "Credit goes to #Pakistan as chair #G77+ China for getting #financing for #LossAndDamage included in #COP27 agenda. PM #Pakistan @CMShehbaz & #UNSG @antonioguterres quoted impacts of #FloodsinPakistan as climate induced losses & damages that needs to be taken care of by big emitters." Dr Suleri said the world has acclaimed Pakistan's role in pleading the case of loss and damage financing for the most developing countries facing huge destruction due to adverse impacts of climate change.

He added that Pakistan's role as chair of G77 plus China in highlighting the issue of loss and damage compensation for developing countries to be given by the biggest polluters -- the most developed countries who caused the damage to the environment resulting in massive degradation.

He highlighted that this occurred for the first time in the history of the COP forum under the United Nations Framework Convention on Climate Change that loss and damage was placed on the conference agenda.

Dr Suleri was of the view that it was pertinent to note that the negotiations to take place in the upcoming days were critical as it would decide the fate of the important climate financing tool.

The Loss and Damage term had been defined as the irreversible economic and non-economic losses incurred due to whopping natural catastrophes like heatwaves, droughts, floods, abrupt weather patterns, wild fires. It also included slow pace disasters like sea intrusion and glacial melting.

The aim of this compensation framework was to hold the major contributors of climate crisis accountable for their damages and irresponsible development putting humanity and it's future in jeopardy.

It also had the goal to capture climate funding for adaptation and mitigation for supporting developing countries to enhance their resilience and preparedness for future natural hazards.