Dubai, Pakistan has commended the swift operationalization of the Loss and Damage Fund at COP28, with pledges totaling 575 million dollars announced during the conference’s opening session in Dubai. The European Union alone committed 225 million dollars to the fund.

According to Ministry of Information and Broadcasting, Pakistan’s significant role in advocating for the fund’s establishment dates back to its chairmanship of the G77 and China group at COP27 in Egypt. Over the past year, Pakistan has actively participated in the transitional committee responsible for finalizing recommendations on the fund’s operationalization.

The Pakistani delegation expressed gratitude for the international community’s rapid response to the fund, highlighting its importance in mitigating climate change impacts on vulnerable nations. However, the delegation acknowledged that the initial pledges fall short of addressing the immense challenges these nations face. As COP28 proceeds, there is a call for further commitment from nations to enhance the fund’s capability to assist those most affected by climate change.

Pakistan reaffirms its commitment to leading and engaging with developing countries on this pivotal issue and remains dedicated to collaborative efforts for the effective implementation and utilization of the Loss and Damage Fund.