SINGAPORE - The damage bill from Pakistan’s flood crisis is now US$40 billion (S$57 billion). The disaster risks setting back the indebted nation by years and its shocking scale, inundating a third of the country, is testament to the growing impacts and costs of climate change on the poorest and most vulnerable nations – which are least to blame for global warming.
Finance to help these cash-strapped countries has become urgent, and the issue will dominate discussions at next month’s COP27 United Nations climate talks in Egypt.
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