Islamabad, Caretaker Prime Minister Anwaar-ul-Haq Kakar has emphasized the importance of merit-based utilization of the Loss and Damage Fund to effectively address the challenges of climate change.

According to Ministry of Information and Broadcasting, in an interview with CNN on the sidelines of the United Nations Framework Convention on Climate Change, Prime Minister Kakar argued that the fund’s utilization should be distinct from development funds and loans from multilateral financial entities. He stressed that funding under the Loss and Damage Fund should be additional and tangible, highlighting Pakistan’s focus on transitioning from coal-based power plants to renewable energy projects to minimize climate change impacts.

The Prime Minister encouraged investment in renewable energy projects in Pakistan by Gulf Cooperation Council countries, UAE, Saudi Arabia, Kuwait, and Western democracies. He pointed out that Pakistan, particularly its provinces of Sindh and Balochistan, has faced historical devastation due to climate change, despite not being a primary contributor to the crisis. Kakar called for an honest conversation about climate responsibilities, welcoming steps taken by wealthier nations to address climate issues.

Responding to a question about the operational framework of the Fund, the Prime Minister stated that initiation is more important than the framework itself, suggesting that it could initially be operationalized under the World Bank and other multilateral entities. His remarks highlight the urgent need for collaborative and fair approaches to mitigate the impacts of climate change globally.