Exp Policy Recommendation
Fireside Chat - 7 Loss and Damage Fund Status
Moderator: Muhammad Fawad Hayat, Deputy General Manager, National Disaster Risk Management Fund (NDRMF), Government of Pakistan
Speakers/Guests:
- Mr Bilal Anwar, CEO, National Disaster Risk Management Fund (NDRMF), Government of Pakistan
- Dr Abid Qaiyum Suleri, Executive Director, Sustainable Development Policy Institute, Islamabad, Pakistan
Key Recommendations:
- Develop a dedicated international fund for climate loss and damage to compensate affected nations, particularly in developing countries, acknowledging that climate change results mainly from the industrial activities of developed nations. The UNFCCC should spearhead this initiative with equitable contributions from developed countries.
- Strengthen Pakistan’s role in global climate negotiations by continuing its proactive advocacy for the establishment and operational details of the Loss and Damage Fund. This effort should be maintained in upcoming COP28 negotiations, focusing on the needs of vulnerable countries and strategic diplomacy within the G77 and China group.
- Adapt global climate financial mechanisms to national contexts, such as strengthening Pakistan’s National Disaster Risk Management Fund (NDRMF). This involves aligning national systems with global loss and damage compensation principles and ensuring the robust management and disbursement of funds.
- Clarify and standardize climate vulnerability and loss criteria to facilitate effective resource allocation. Collaborative international efforts are needed to develop clear, universally accepted criteria for determining climate vulnerability and loss, involving climate experts, affected nations, and bodies like the UNFCCC.