In a major breakthrough for developing countries, the United Nations COP27 climate summit has approved the creation of a special fund to cover the losses suffered by 134 vulnerable nations hit by the impact of global warming.

Prime Minister Shebaz Sharif has welcomed the development and has lauded Federal Minister for Climate Change Senator Sherry Rehman, who spearheaded the breakthrough, for her efforts.


“The establishment of a loss & damage fund at the UN climate summit is the first pivotal step towards the goal of climate justice. It is up to the transitional committee to build on the historic development. I appreciate @sherryrehman & her team for their contribution & hard work,” wrote PM while appreciating the efforts of Sherry Rehman.

RELATED STORIES

Sherry Rehman in a series of tweets while welcoming the announcement said it’s been a thirty year long journey from demand to the formation of the loss and damage fund for 134 countries.

At the start of the UN discussions in Egypt, the “loss and damage” brought on by climatically-induced disasters was not formally on the table.
But as discussions progressed, a concerted campaign by poor nations to make it the conference’s central issue broke down wealthier polluters’ resistance who had previously been wary of open-ended liability.