COP27 leaders shed light on damage caused by extreme weather
At a United Nations climate conference, leaders of developing countries drew attention to the severe damage caused by extreme weather events caused by climate change.
These concerns were among concerns highlighted by delegates from more than 100 countries and territories at a two-day summit in Egypt. The event was held until Tuesday as part of the COP27 meeting.
Pakistani Prime Minister Shahbaz Sharif said the catastrophic floods that hit the country this year covered the size of three European countries and affected 33 million people.
He said Pakistan must “spend billions of dollars to protect flood-affected people from further misery and hardship.”
Leaders of other developing countries have said they are being hit by droughts and land loss due to rising sea levels.
One of the main items on the agenda for COP27 is how to provide financial assistance to cover loss and damage caused by climate change.
German Chancellor Olaf Scholz has pledged to provide around $170 million to “support the countries hardest hit by climate change in a targeted way to deal with loss and damage”.
Belgium and some other countries have expressed their willingness to provide financial assistance and are welcomed by developing economies.
At the same time, poor countries are calling for a new fund specializing in dealing with loss and damage.