The COP27’s “loss and damage fund” was hailed as a big accomplishment by foreign minister bilawal bhutto-zardari.
He spoke about his recent seven-day journey to the US in an interview with Arab News on Wednesday.
Bilawal bhutto-zardari was in New York earlier this month to host a ministerial conference of the G-77. And also he hosted China grouping, the biggest negotiating bloc of poor countries under the United Nations system. As Cuba took over as group chairman the next year, it was also Pakistan’s final conference in that role.
The fund was formed during Pakistan’s G77 leadership, according to Bilawal Bhutto, who claimed that climate activists had pushed for it for 30 years.
They were able to find common ground, according to the foreign minister, because of language loss.
According to the foreign minister, because emerging nations have lower carbon footprints than developed nations, they believe they have contributed less to the situation.
“Exactly that is the G77 agenda or ambition. The aspirations of the developing world are embodied by us. The “Loss and Damage” fund showed how developing countries could unite for a similar goal and use their combined strength. The foreign minister further, added that, “I think we were quite successful in building that consensus.”
