Pakistan has successfully advocated compensation for flood losses and damages at the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP-27) in Egypt as the chair of the G77 and China forum. The news was shared in a video message by the Executive Director of Sustainable Development Policy Institute (SDPI) Dr Abid Qaiyum Suleri, who is participating in the global environmental moot along with the Prime Minister of Pakistan Shahbaz Sharif. He said, “Pakistan has successfully arranged for its inclusion in the financing agenda for the flood losses and damages at the COP-27 in Egypt.

All the credit goes to the G77 and China, Prime Minister Shahbaz Shareef, and UN Secretary General Antonio Guterres.” He said that the world has realized that Pakistan had to bear a lot of losses in the wake of recent climate-change induced disasters. He said as chair of the G77 and China, Pakistan has successfully fought the case of developing countries who are facing threats from climate change. He added that it is the responsibility of the developed world to make sure that they help the world in mitigating the losses of the climate change disasters.

“Big polluters need to make sure that they compensate for the losses of developing countries.” He informed that COP has for the first time included financing for losses in its conference agenda. He said, “in the coming days we will have to keep mobilizing the opinion of the international forces to make sure that we get the desired financing for the losses that we have sustained.” He highlighted that “The Loss and Damage” term has been defined as the irreversible economic and non-economic losses incurred due to whopping natural catastrophes like heatwaves, droughts, floods, abrupt weather patterns, and wildfires.

It also included slow pace disasters like sea intrusion and glacial melting.   He continued, “the aim of this compensation framework is to hold the major contributors to the climate crisis accountable for their damages and irresponsible development which put humanity and its future in jeopardy.”  “It also has the goal to raise climate funding for adaptation and mitigation to support developing countries in enhancing their resilience and preparedness for future natural hazards,” he added.

Credit : Independent News Pakistan-WealthPk