At a recent climate finance focused event, Pakistan’s Minister for Climate Change, Sherry Rehman, called on international governments to place climate finance and losses at the heart of COP 27 talks next year, with catastrophe bonds one instrument seen as having a role.
Loss and damage has been a key sticking point in climate talks so far, with at this time no significant progress made, but growing calls for some type of financial solution to provide contingent capital that can be disbursed to those suffering climate related loss and damage.
Pakistan is currently the Chair of the Group of 77, an international organisation formed in 1964 and that now counts 134 member states.
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