Loss and Damage Fund a “major win” for Pakistan, developing world: Bilawal

ISLAMABAD (APP): Foreign Minister Bilawal Bhutto Zardari on Sunday said that the establishment of the Loss and Damage Fund and financial arrangements to address the issue of climate justice, was a “major win” for Pakistan and all of the developing world.
The foreign minister, in a statement, said, “In monumental achievement for climate justice & G77 led by Pakistan, the COP27 has successfully concluded with loss and damage as part of the agenda including a fund and financial arrangements to address this issue.”
He congratulated Egypt’s Foreign Minister Sameh Shoukry for hosting a historic COP27.
The foreign minister said that having experienced first-hand scale and devastation of Pakistan floods, they traveled to the United Nations General Assembly to advocate for climate justice.
He recalled that the Group of 77, chaired by him at the UN, unanimously adopted Pakistan’s proposal to demand loss and damage be part of the COP27 agenda.
Bilawal Bhutto said that in Egypt too, Pakistan’s proposal as chair of G77 to include language ‘loss and damage fund’ on the agenda had achieved consensus.
Upon conclusion of negotiations, we have sustained that consensus and also included necessary language on fund and financial arrangement, he added.
The foreign minister also mentioned his interactions with US Special Presidential Envoy for Climate John Kerry both in Egypt and over the phone in which he appreciated the leadership on climate, requested support for G77, and demanded the inclusion of financial arrangements to tackle loss and damage which led to a compromise.
The foreign minister paid special gratitude to all members of G-77 and China for their continued support and trust in Pakistan’s leadership.
“A special shout-out to team Pakistan at COP27. The team of the foreign ministry and climate change ministry led by Minister Sherry Rehman, under the leadership of Prime Minister Shehbaz Sharif delivered a major win on the world stage,” he commented.
The foreign minister championed the cause of loss and damage for developing countries vulnerable to climate change, which was endorsed by G77 and China Meeting of foreign ministers in New York chaired by him.
“This is a major win for Pakistan and all of the developing world.” Bilawal Bhutto Zardari remarked.