Being one of the vulnerable countries getting hit by the climate change induced calamities, Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar stressed on the need to immediately operationalise the Loss and Damage Fund and its utilisation on merit.
It may be noted that Pakistan is currently focusing on transformation from coal-based power plants to renewable energy projects to contribute towards minimising the climate change impacts. Considering this, he said, “This is the area which could attract the interest of countries here in Gulf Cooperation Council (GCC) countries, UAE, Saudi Arabia, Kuwait, and the settled economies and democracies on the Western side, so it is an opportunity for all of them and all of us.”
On November 30, Dubai launched the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change with a landmark move of operationalising the loss and damage fund. The fund aims to help vulnerable nations cope with the impacts of climate change.
On the first day, countries like the UAE, the UK, and Germany contributed approximately $400 million, with the UAE committing $100 million to aid developing and vulnerable nations grappling with climate change-induced natural disasters.
Pakistan’s Prime Minister, talking to the media during the event, said, “The utilisation of the fund should not be linked to the development funds and loans from multilateral financial entities, but the funding should be additional and tangible.”
Talking about the disaster hitting Pakistan, he pointed out that Pakistan was not primarily responsible for contributing to the climate disaster in which the country’s two provinces Sindh and Balochistan faced historical devastation.
He said, the responsibility shown by the wealthy nations themselves would be a welcome step and hoped that the funds are operatioanlised under the World Bank and other multilateral entities as waiting for the UN framework will take years.