COP27 must help unlock private, public financing for climate adaptation, mitigation: Sherry.

SHARM EL-SHEIKH -- Federal Minister for Climate Change Senator Sherry Rehman on Friday said COP27 must help unlock private and public financing for adaptation and mitigation, which would need $125 trillion to reach net-zero by 2050.

The minister was speaking at UNFCCC's annual conference for climate action, the 27th meeting of the conference of the parties (COP27), being held in Sharm el-Sheikh this year.

"This is no longer about saving our future; it's a battle to save our present. It is also about saving the land we stand on, and what we expect to build and grow on," she stated.

The Minister was speaking at a high-level side event at the UNFCCC Pavilion titled 'Gearing towards carbon neutrality in the Asia-Pacific Region' and recommended that COP27 should enable mechanisms that review mitigation, alongside how regions will cope with the onset of accelerated climate stress, leading to constant climate emergencies. "We need a coalition of the willing to unlock climate finance for governments, countries and entire regions to manage predictability of the future, build resilience capacity, and mitigation for a future that survives the coming climate tsunami," she stated.

Senator Rehman also spoke at a panel discussion titled 'The Broken Bargain between the North and the South' at the Pakistan Pavilion at COP27, where she was joined by Director of the International Centre for Climate Change and Development (ICCCAD), Professor Saleemul Huq, Executive Director for Civil Society Coalition for Climate Change, Aisha Khan, and Head Global Political Strategy, Climate Action Network International, Harjeet Singh. The panel was moderated by environmental lawyer and activist Ahmad Rafay Alam.

Participants, speaking on the panel agreed that the bargain between the Global North and South needs a reset, and the COP27 system offers that opportunity on diplomatic and...

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