PM Kakar for utilizing Loss & Damage Fund on merit to cope with climate change issues

DUBAI, :Caretaker Prime Minister Anwaar-ul-Haq Kakar on Thursday stressed the need to  immediately operationalize the Loss & Damage Fund, ensuring its utilization on merit to cope with the issues of climate change.

He said the utilization of Fund should not be linked with the development funds and loans from multilateral financial entities, but the funding should be additional and tangible.

The prime minister, in an interview with CNN on the sidelines of United Nations Framework Convention on Climate Change (UNFCCC) COP28,  said that currently Pakistan’s focus was on transformation from the coal-based power plants to renewable energy projects to contribute towards minimizing the climate change impacts in the region and beyond.

“This is the area which could attract interest of countries here in Gulf Cooperation Council (GCC) countries, UAE, Saudi Arabia, Kuwait, and the settled economies and democracies on the Western side, so it is an opportunity for all of them and all of us,” he added.

He said the climate change was no more a fashionable point to discuss as it hit Pakistan very hard last year.

The prime minister pointed out that Pakistan was not primarily responsible for contributing to the climate disaster in which the country’s two provinces Sindh and Balochistan faced historical devastation.

“Everyone knows who have been contributing in last one century so it is more of a question of an honest conversation rather than passing judgment on countries and economies,” he remarked. Therefore, he said, the responsibility shown by the wealthy nations themselves would be a welcome step.

To a question whether the Fund should be operationalized through a United Nation framework, the prime minister said, “If we wait for a UN framework it will take years of years. Therefore, initially it is possible to operationalize it under the World Bank and other multilateral entities.”