SHARM EL-SHEIKH -UNS -Pakistan on behalf of developing countries as chair of G-77and China and painstaking negotiations at Sharm EI Sheikh,COP27 has approved financial arrangement and fund for loss and damage.
According to details 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.Foreign Minister of Pakistan Bilawal Bhutto championed the cause of loss and damage for developing countries vulnerable to climate change,which was endorsed by G77 and China meeting of FMs in New York .
Bilawal said ,”This is win for Pakistan and all developing world.”
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.
