Staff Report ISB: Mushahidullah Khan, Federal Minister for Climate Change, has warmly applauded Francois Hollande, French President on his statement pertaining to global climate agreement which is highly anticipated. Earlier, the French President said on the occasion of 6th international Petersberg Climate Dialogue `Reaching for the Paris outcome’, held at Germany that a scheme for bolstering up climate finance for developing countries to $100 billion a year by 2020 is inevitable to agreeing the new global climate deal in Paris later this year.
Mushahidullah Khan has acknowledged the statement of the French president who said that without financial supplement by rich polluting countries including USA, UK, Germany, Canada, Poland, odds are hazy for the global climate pact most likely to be reached in Paris in December this year among over 196 rich and poor countries.
Minister said that that finance for poor nations must be a key in Global Climate Agreement for developing countries to allow them to opt for low-carbon growth, without it the targets can hardly be met and agreement will not have larger impacts without funds for developing countries. Developed countries must incorporate fund for developing countries to cope with the alarming global concern of climate change, he added.
Empasizing on need of funds Mushahidullah reiterated that this is really necessary because many developing like Pakistan, Nepal, Philippines, Vietnam, Bhutan and Afghanistan need money and want to hear about release of these major sums from GCF.