As the world gears up for the COP29 summit, one of the key topics that will dominate discussions is the harmonisation of loss and damage finance mechanisms. Pakistan, like many other vulnerable countries, has long been advocating for a more coordinated approach to addressing the financial implications of climate change. With increasing climate-induced disasters, from floods to droughts, the pressure on developing countries has intensified.
The need for a robust financial framework to deal with the aftermath of such disasters is critical. Developing nations have repeatedly called for clear, accessible funding channels to support recovery efforts. Pakistan’s role in COP29 will likely focus on pushing for a more transparent and equitable distribution of funds.
Experts believe that the alignment of global climate finance systems will play a crucial role in ensuring that loss and damage are adequately addressed, setting a precedent for future climate talks.