SHARM EL-SHEIKH: Pakistan has welcomed agreeing to formation of of the “Loss & Damage Fund” for 134 countries badly affected by climate change.
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Taking to Twitter, Pakistan’s Climate Minister Senator Sherry Rehman said it’s been a long 30-year journey from demand to formation of the Loss & Damage Fund for 134 countries. She said “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 climate justice.
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Her statement came following agreement reached between countries, attending Cop 27 climate summit at Sharam El Sheikh, Egypt, to set up a fund to help poor countries being battered by climate disasters. The meeting approved the text’s provision to set up a “loss and damage” fund to help developing countries bear the immediate costs of climate-fuelled events such as storms and floods.
Senator Sherry Rehman said 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.
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She said The announcement (at Sharm El Sheikh) 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.
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 1/4 pic.twitter.com/ErNDRLnLCt
— SenatorSherryRehman (@sherryrehman) November 20, 2022
Sherry Rehman expressed deep appreciation “the long hours, commitment put in by our dedicated teams of group chairs, SIDS, AILAC, LDCs, LMDCs, AIOSIS, Ambassador 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.”
She also thanked PM Shehbaz Sharif and Foreign Minister Bilawal for checking in daily after they left Sharm AlShaikh to see where they needed to intervene to help the negotiations. “Such solid support kept many of us going just when we thought it’s touch and go,” she added.
