‘Now or never’: At COP27, PM Shehbaz says Pakistan needs funds, not debts
Prime Minister Shehbaz Sharif on Tuesday said that Pakistan needed additional funding, not debts, to rebuild a resilient and adaptive infrastructure in the face of climate change.
In his national statement at the COP27 climate conference in Egypt, the premier stressed that it was the duty of the global north to understand Pakistan’s plight.
Addressing world leaders, he said that climate change-induced catastrophic flooding in Pakistan had impacted 33 million people — the size of three European countries — with more than half being women and children.
PM Shehbaz highlighted that the floods had destroyed over 8,000 kilometers of highways, damaged more than 3,000 kilometers of railway tracks, and washed away crops over four million acres.
“The Post-Disaster Needs Assessment estimates over $30 billion in loss and damage.”
He said that Pakistan suffered the manmade disaster despite less than one percent contribution to the carbon footprint, adding that amid these disastrous conditions, flood-hit Pakistan had to import wheat, palm oil, and “very expensive” oil and gas spending around $32 billion.
Highlighting Pakistan’s priorities, the prime minister emphasised prioritising the Global Goal on Adaptation both in terms of financing and timelines. “The current financing gap is too high to sustain any real recovery needs of those on the frontlines of climate catastrophe.”
Secondly, he went on, loss and damage needed to be a part of the core agenda of COP27 to meet the pressing humanitarian needs of those who were trapped in a crisis of public financing fueled by debt and yet had to fund climate disasters on their own.
Thirdly, PM Shehbaz called for clearly defining climate finance as new, additional, and sustained resources with a transparent mechanism to meet the needs of develo and vulnerable countries with the required speed and scale.
“We have been talking for years. But have failed to even agree on the basics. Pledges made at the Copenhagen COP15 in 2009 for mobilizing $100 billion per annum by 2020 have still not been realised. They need to be enhanced given the increased frequency and intensity of climate extreme events,” he underlined.
Moreover, the premier also called for the creation of a Global Climate Risk Index for all parties of the UNFCCC, where projects from the most vulnerable countries could be prioritised and given speedy approvals for climate finance.
Prime Minister Shehbaz said the COP27 summit rang an alarm bell for humanity as it was the only platform where vulnerable countries took their case to the rich and the resourced, to build a common purpose for justice, carbon neutrality and a roadmap to crucial policy resets.
此外，谢巴兹总理还呼吁为《联合国气候变化框架公约》的所有缔约国建立一个全球气候风险指数(Global Climate Risk Index)，优先考虑最易受灾国家的项目，并迅速获得气候资金的批准。
Begging reached a new height.
Biggest climate impact on Pakistan is uncontrolled explosion of population. If you want to follow China then follow the limit placed on how many child a couple is allowed to have.
All lies.... If Pakistan need funds please sell your properties in England/ Panama/ British Virgin Islands and pool it to Pakistan
In 1970, floods killed 300,000 people in East Pakistan (which is now Bangladesh). In 2020, similar floods killed just 10 people. Why? Because Bangladesh did something about the floods. Pakistan did nothing. Now they blame the world for it.
Nice Innovation!! Raising Funds!!
Dr. Asim Maqbool
This beggar has changed his spot to beg now.
Joke... basically, only pmln, ppp needs funds not Pakistan.
Muhib E Watan
Yes, “Funds, not Loan and not Aid”, because I am a a international beggar and a shoe shiner.
Master professional Begger in action on world stage.
The main reason for floods in Pakistan is - they never built dams. Now they blame the world for it.
They own malls and bazaars oversees making millions of dollars of profit per month. Shame to see that they are begging in the name of poor people and looting the wealth for personal gains. Getting closer to 1971 scenario, unfortunately.
They blame others for everything. If their food is salty, they will blame America for it.
Well, Mr.Sharif, you talked about losses a hundred times and asked for funds a thousand times. The world chose to look the other way. You must understand. Why talk and ask for funds again ?
Sell your properties abroad and in Pakistan first, donate them and go to jail first.
SS tries to grab money every which way he can.
Now or never.... Please get lost forever Crime Minister
This guy is always crying wolf. Collect all the money you and your brother stole. Pakistan will be better
First the entire family and their goons drain the country with their corruption and then go out shamelessly with a begging bowl.
“Pakistan needs funds not debts”- so now Pakistan just wants wants other counties to just give it free money and not even put an interest. Heights of shameless ness
Don’t you people get tired of asking for funds and begging like that? Is this why you made your nation?
Global warming champions must pay Carbon Tax on the prescribed rates (as in Europe for polluting sources) and collected monies must be distributed to the victim countries, in proportion to their losses due to the Global Warming damages sustained.
The reason for floods in Pakistan is not climate change but incessant cutting of trees and erosion due to soil blasting due to cpec. You people have yourselves to blame.
Global north has recession! The only countries which can help are your Eastern neighbours.
No talk or pledge about working hard and making policies for stronger Pakistan economy ! Instead ask others for funds as if Pakistan is entitled for it ! Nobody is gonna pay heed to such speeches or requests ! Start working hard and make fundamental change to the policies - the path may be tough but will save Pakistan from the ruin in future !
He says now or never, as if he’s the one giving money to others and others and asking him for money.
How embarrassing it must be to be a Pakistani!
Did Pakistan acquire all the debts due to the flood?
always begging.. whether COVID 19 or Climate change excuse .. always a liability and burden for world since it’s creation
Will say anything for money. Embarrassing.
@pontifex, Unfortunately, uneducated people do not see the bigger picture. Re-producing is all they know and do. No amount of advising or counseling works on such people