The Great Loss and Damage Fund Debate

delegate from pakistan speaking
The Express Tribune
Dubai, United Arab Emirates
The Great Loss and Damage Fund Debate

The international conference on climate change in the United Arab Emirates is making headlines, especially with the announcement of the "Loss and Damage Fund." This fund aims to provide financial assistance to countries vulnerable to the adverse effects of environmental changes, particularly those facing challenges due to the high carbon emissions of larger nations.

The UAE, as the host country, has pledged $100 million to the fund, demonstrating its commitment to addressing climate-related issues. Other noteworthy contributions include Germany's $100 million, the UK's £40 million for the fund and £20 million for additional arrangements, Japan's $10 million, and the U.S.'s commitment of $17.5 million.

In the broader context, Pakistan, as one of the most vulnerable countries affected by climate change, needs to leverage such global initiatives to secure its share in climate finance. Despite being a relatively minor contributor to pollution, Pakistan's role in mitigating climate change effects remains crucial. The Prime Minister of Pakistan seems to be very hopeful about the “Loss and Damage Fund."

“The announcement of the Loss and Damage Fund has sparked discussions about its effectiveness and whether it will be sufficient for countries like Pakistan. An optimistic perspective suggests that Pakistan, aligning with its National Climate Adaptation Plan, can utilize these funds wisely for initiatives like afforestation and renewable energy," he said.

This is a summary. Read the full article on The Express Tribune.

This story was produced as part of the 2023 Climate Change Media Partnership, a journalism fellowship organized by Internews' Earth Journalism Network and the Stanley Center for Peace and Security. It was first published by The Express Tribune on December 10, 2023.

Banner image: The Pakistan delegation at COP28 / Credit: The Express Tribune.

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