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At COP27, Pakistan to lead push for compensation to developing countries

At the UN Climate Summit in Egypt, Pakistan will lead push for compensation to developing countries suffering from climate change.

This was stated by Pakistan’s Permanent Representative to the United Nations, and Chairman of the Group of 77 and China, Munir Akram, in an interview with “The Washington Post”.

He said this is a matter of climate justice to the developing countries that are suffering from impacts of policies of industrialized countries over the past 150 years.

Munir Akram said there is a lot of talk about global solidarity but there is reluctance on the part of Global North to admit their policies caused the climate change, and therefore they have a responsibility to respond to it.

According to data from the Global Carbon Project, more than 80 percent of planet-warming emissions come from the world’s 20 largest economies.

By contrast, Pakistan is the source of less than 0.4 percent of historic carbon pollution.

According to a World Bank report Pakistan, is grappling with more than 30 billion dollars in physical and economic losses from the floods,

Devastation to agriculture and other industries is expected to shrink the national gross domestic product by more than 2 percent.

The report said rebuilding damaged infrastructure in a resilient way will cost the country more than 16 billion dollars.

Source: Radio Pakistan