Prime Minister’s Call for Developed Nations to Step Up on Climate ActionBAKU,
Prime Minister Sharif pointed out that, despite pledges made at COP-15 for $1 billion in climate financing, only $160 million has been delivered. Highlighting Pakistan’s vulnerability to climate change
Prime Minister Muhammad Shehbaz Sharif emphasized the urgent need for developed nations to lead the way in tackling climate change, asserting that developing countries require an estimated $6.8 trillion by 2030 to implement their Nationally Determined Contributions (NDCs). Speaking at the Climate Finance Roundtable hosted by Pakistan during COP-29, Prime Minister Sharif highlighted the necessity of reshaping the Global Climate Finance Framework.
In his address, the Prime Minister extended a warm welcome to participants, expressing appreciation for their commitment to this critical roundtable. He urged a fresh perspective and innovative solutions to address long-standing, complex climate challenges. Stressing the responsibility of developed nations, he called for immediate adherence to the UN Framework for Climate Action, ensuring climate funding is provided to help developing countries meet their NDC targets.
Prime Minister Sharif pointed out that, despite pledges made at COP-15 for $1 billion in climate financing, only $160 million has been delivered. Highlighting Pakistan’s vulnerability to climate change, he noted that two major floods have devastated the country in recent years, including the catastrophic 2022 flood, which affected one-third of Pakistan’s land area. Due to such disasters, Pakistan had to redirect its climate funds toward essential relief and rehabilitation.
Emphasizing the need for non-debt-based climate financing, Prime Minister Sharif called on developed nations to fulfill their commitments to climate aid without imposing further debt on vulnerable economies. He also proposed that the UNFCCC set up a committee to review commitments every 15 days, ensuring accountability in climate action.
Concluding his address, the Prime Minister expressed gratitude to the attendees for their valuable suggestions and participation in Pakistan’s hosted conference. He also stressed the importance of a strengthened multilateral approach and suggested enhancing the Loss and Damage Fund to effectively safeguard future generations from climate threats.
BAKU, 12 November 2024
Reporter: Imtiaz Ali Abbasi
Posted by: The largest English Digital News Network
Prime Minister Muhammad Shehbaz Sharif emphasized the urgent need for developed nations to lead the way in tackling climate change, asserting that developing countries require an estimated $6.8 trillion by 2030 to implement their Nationally Determined Contributions (NDCs). Speaking at the Climate Finance Roundtable hosted by Pakistan during COP-29, Prime Minister Sharif highlighted the necessity of reshaping the Global Climate Finance Framework.
In his address, the Prime Minister extended a warm welcome to participants, expressing appreciation for their commitment to this critical roundtable. He urged a fresh perspective and innovative solutions to address long-standing, complex climate challenges. Stressing the responsibility of developed nations, he called for immediate adherence to the UN Framework for Climate Action, ensuring climate funding is provided to help developing countries meet their NDC targets.
Prime Minister Sharif pointed out that, despite pledges made at COP-15 for $1 billion in climate financing, only $160 million has been delivered. Highlighting Pakistan’s vulnerability to climate change, he noted that two major floods have devastated the country in recent years, including the catastrophic 2022 flood, which affected one-third of Pakistan’s land area. Due to such disasters, Pakistan had to redirect its climate funds toward essential relief and rehabilitation.
Emphasizing the need for non-debt-based climate financing, Prime Minister Sharif called on developed nations to fulfill their commitments to climate aid without imposing further debt on vulnerable economies. He also proposed that the UNFCCC set up a committee to review commitments every 15 days, ensuring accountability in climate action.
Concluding his address, the Prime Minister expressed gratitude to the attendees for their valuable suggestions and participation in Pakistan’s hosted conference. He also stressed the importance of a strengthened multilateral approach and suggested enhancing the Loss and Damage Fund to effectively safeguard future generations from climate threats.
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