Sherry Rehman hails COP-27 for setting up ‘loss and damage’ fund as a landmark achievement

Sharm El-Sheikh: Federal Minister for Climate Change Senator Sherry Rehman on Sunday, while representing G-77 plus China group statement at the concluding plenary of the international climate change conference termed the establishment of Loss and Damage Fund a landmark achievement and the international moot as an implementation conference by fulfilling the long-standing goal.

Addressing the 27th meeting of the conference of the parties (COP-27) concluding plenary, Senator Sherry Rehman said, “Mr President (Sameh Shoukry) you promised us an implementation COP and you delivered an implementation COP. Our all congratulations to you.”

The minister said the ultimate test of the COP was that it responded to the voices of the vulnerable.

“We have struggled for thirty years for this path and achieved it. This fund is clearly the down payment in our joined futures and investment in our coming generations. The establishment of Fund is not about dispensing charity but rather an investment in our joint future.”

She also commended the global partners especially the UN Secretary-General for responding to the flood victims of Pakistan in an overwhelming response as the cataclysmic floods impacted 33 million population and inflicted cumulative damages of $30 billion.

Senator Rehman said, “We (G77 plus China) are also encouraged by the decision of operationalizing of the Santiago Network on Loss and Damage.”

Through constructive engagement all parties were able to arrive at a consensus that puts the network on a firm institutional footing with an advisory board and a Secretariat with the host to be selected through a robust process, she added.

The minister as chair of G-77 plus China mentioned that the group looked forward to enhancing the catalyzation of technical assistance to all developing countries to equip themselves with knowledge and technology for better management of climate change.

While highlighting the observations of the Group on various significant observations, she said first, the Group regretted that for the new collective unified goal it could not get substantive guidance for 2023-24 but will get a workplan in the next moot.

Second, she said the Group noted the progress on the GGA framework program but the GGA substantive portions were not explained and elaborated on despite many partners’ requests.

Third, the group emphasized the work of KCI and KCI Report but it had concern over the lack of progress on the midterm review of the report. However, it looked forward to the KCI to help develop understanding of the response measures among the developing countries.

Fourth, the Group was concerned about the lack of performance on the deficit in financing formulation and implementation on national adaptation plans as these were important tools for developing climate resilience among vulnerable nations.

She said the group also welcomed the first joint work program of the technology mechanism for 2023 and 2027.

The minister concluded that the G-77 plus China would continue to support efforts for reclaiming the planet for coming generations and for forging common grounds for climate resilient future for all.

As the UN Secretary General said, the minister quoted saying, “we need to look forward to 2030 as the decisive decade.”