PM emphasises resources mobilisation under Loss and Damage Fund in meeting with John Kerry

Prime Minister Shehbaz Sharif on Thursday said that the realisation of the pledges for resources mobilisation under the Loss and Damage Fund established at COP 27 was of utmost importance.

The prime minister, in a meeting with Special US Presidential Envoy for Climate John Kerry, on the sidelines of the New Global Financing Pact Summit here, said being a common problem, the environmental issues required joint strategy and efforts.

Both the leaders expressed good wishes for each other.

The prime minister appreciated John Kerry and the US Administration for their priorities on environment-related issues. The first-ever appointment of John Kerry as Special Presidential Envoy for Climate also manifested the realisation of the importance of the issue.

The prime minister observed that environmental problems were adversely affecting the development and growth rate of the developing countries.

He highlighted that the unprecedented floods of 2022 had exacerbated the economic woes of Pakistan.

The prime minister urged the developed countries to help the developing world overcome the negative impacts of environmental issues on their growth rate.

He believed that the New Global Financing Pact Summit being held in Paris was a ray of hope for the developing world.

Moreover, he said the reformation of the international financial infrastructure was also important to provide resources to developing countries.

John Kerry endorsed the prime minister’s viewpoint of threats posed by climate change to the developing world.

Both the leaders agreed to keep up the contacts and consultation to carry out joint efforts for the purpose.