PM seeks to unlock $100b climate finance

Kakar says expectations from COP28 not unrealistic

DUBAI:

Caretaker Prime Minister Anwaarul Haq Kakar on Saturday called for immediately executing the $100 billion commitments for climate finance to ensure implementation of climate change actions by the developing countries and to mitigate the climate change impacts.

"Such finance should neither be at the cost of development finance nor add to the already high debt burden of the developing countries," the prime minister said while delivering the National Statement at the 28th Conference of Parties of the United Nations (COP 28).

He also called upon the developed countries to take the lead in raising global mitigation ambition commensurate with their economic standing and historical responsibility and then help developing countries do the same.

"We need to achieve global resilience through delivering an ambitious outcome in the form of a framework for global goal on adaptation with clear targets and indicators including regular monitoring of progress," he said, adding that at least half of climate finance must be allocated to adaptation.

The prime minister said that the expectations from COP28 were high but not unrealistic, hoping that this COP would deliver with action not just words. He laid emphasis on providing adequate means of implementation including climate finance, capacity-building and technology, to developing countries to tackle this growing challenge.

The prime minister highlighted that last year, Pakistan suffered super floods while this year would be the world's hottest year in recorded history. At COP 26 at Glasgow, he said Pakistan increased its ambitions presenting the revised Nationally Determined Contributions (NDC) with a target of 60 percent overall reduction in projected emissions by 2030.

"This year, Pakistan presented a comprehensive national adaptation plan and has also launched an innovative Living Indus Initiative that brings together our care for climate and for nature," he said adding "We will also be presenting our first update report during this COP."

Read more: US pledges $3b for Green Climate Fund at COP28- sources

Last year, he said Pakistan led the endeavor to craft an agreement on establishing a global loss and damage fund while this year "we worked to activate an adequately financed loss and damage fund and its funding arrangement".

He said climate justice demanded that the developing countries should be enabled to achieve the Sustainable Development Goals (SDGs) even as they contribute to climate objectives. "The provision of sufficient additional predictable grant-based climate finance by developed countries is imperative."

Meanwhile, Caretaker Prime Minister Anwaarul Haq Kakar and Prime Minister of Syria Hussein Arnous asked Israel to stop the brutal use of force on the Palestinians, ensure ceasefire, facilitate humanitarian assistance and resolve the Palestinian question in line with UN Security Council resolutions.

During a meeting held here between the two leaders on the sidelines of COP 28, the two sides discussed the ongoing Israeli violence against Palestinian people and called on the international community to take meaningful notice of the situation.

Also read: UN chief, COP28 president clash over future of fossil fuels

The two leaders also expressed the commitment to strengthen bilateral cooperation in diverse fields including economic, cultural and tourism besides agreeing to revive the Joint Ministerial Commission.

They also reviewed the bilateral relationship and agreed to enhance the frequency of bilateral political exchanges to foster understanding between the leadership and the brotherly peoples of the two countries.

Also, Caretaker Prime Minister Anwaarul Haq Kakar and President of Sri Lanka Ranil Wickremesinghe
agreed to further deepen and strengthen the long-standing cooperation between the two countries in political, economic, and cultural spheres as well as people-to-people contacts.

The prime minister held a bilateral meeting with President Ranil Wickremesinghe on the sidelines of COP-28 being held, PM Office Media Wing said in a press release.

The two leaders spoke warmly about the close and cordial nature of Pakistan-Sri Lanka bilateral relations and immense goodwill between the peoples of the two countries. President Wickremesinghe shared Sri Lanka's experience and measures to address the challenge of financial crunch and inflation.

Prime Minister Kakar briefed the Sri Lankan president on the government's efforts to revitalize the economy. The prime minister and President Wickremesinghe discussed the importance of working together to promote peace and development in South Asia and to address common challenges including the adverse impacts of climate change. APP