Islamabad: Establishment of the Damage and lost fund during the COP27 UN Climate summit which is breakthrough agreement to help poor countries affected by climate disasters and vulnerable to the adverse effects of climate change.
The Damage and Lost fund is the fruit of efforts made by Prime Minister Shahbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and Climate change Minister Sherry Rehman.
The countries faced financial damages and harm by floods and other situations owing to the climate change will get financial assistance through the fund.
The fund will help rehabilitation of flood affected and will also help in reconstruction. The premier Shahbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and Climate Change Minister Sherry Rehman raised the voice for climate justice.
Secrectary General United Nations (UN) António Guterres including world leaders played their vital role brokering this agreement of Damage and Lost Fund.
Representatives of nearly two hundred nations participating in the summit termed the agreement a step forward in the fight against climate change.
The COP27 draft agreement reaffirms to limit global warming to 1.5 degrees Celsius to prevent the worst effects of climate change.
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