A Mere Litmus Test?
Food insecurity is affecting 14.6 million people in Pakistan after the floods.
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Following Pakistan’s narrative around loss and damages caused by climate change, COP27 has placed financial reparations on the agenda for this year’s summit. The floods assessment recently updated the financial loss to around USD 30.2 billion (loss and damages to agriculture, livestock, infrastructure, etc). The contrast between the damages and CO2 emissions further highlights the intensity of the damage done by the recent floods.
But is COP27’s agenda enough? The UN Secretary-General termed the summit a litmus test for trust between developing and under-developed countries when combatting this existential threat. However, various promises have been made in the past, by developed countries, regarding financial assistance to underdeveloped countries, but, not many have materialized. For instance, at COP15 in 2009, developed countries aimed to mobilize USD 100 billion per year by 2020, to fulfill the requirements of developing countries. Instead developed countries are even hesitating on imposing windfall taxes on big oil and gas companies.
In such precarious times, the West’s passiveness is countered by countries like Pakistan, which is also chairing the G77 in this year’s COP27. Many events point towards a win for Pakistan, including Denmark offering loss and damages to poor countries. But at the end of the day, mere financial recompensation won’t amount to much, unless the privileged West pledges action to make long-term amends.
GRAPHICS OF THE DAY
Turkey vs. Pakistan CO2 emissions
Pakistan's score on Global Hunger Index
Pakistan's ranking/score versus India and Bangladesh and South Asia's average during 2022
INSTAGRAM POST
Did You Know: — www.instagram.com
⚫ Pakistan’s power generation declined by 10% during Q1 FY 23
⚫ Pakistan’s power generation has dropped by 10% to 41,081 GWh on a year-over-year (YoY) basis in the first quarter of the current fiscal year 2023 (Q1 FY 23)
⚫ The cost of fuel rose by 56% during Q1 FY 23 compared to Q1 FY 22
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What Else We’re Reading
COP27 movers and shakers: Nine people shaping the climate agenda (Climate Change News)
World Bank to provide more than USD 3 billion for energy infrastructure development in Pakistan (Dawn)
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