The session first swiftly approved the text’s provision to set up a “loss and damage” fund to help developing countries bear the immediate costs of climate-fuelled events such as storms and floods. “The establishment of loss and damage fund at the UN climate summit is the first pivotal step towards the goal of climate justice. Shehbaz Sharif noted that Pakistan, as Chair of G-77 and China, successfully led the effort for acceptance of the demand” for loss and damage. The establishment of loss & damage fund at the UN climate summit is the first pivotal step towards the goal of climate justice. Negotiators from the European Union and other countries had said earlier that they were worried about efforts to block measures to strengthen last year’s Glasgow Climate Pact.

Source: Libya Today November 20, 2022 06:13 UTC