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November 14, 2022: National / International Current Affairs
National Current Affairs News
1. Pakistan among seven states to get climate disaster funding
• Pakistan and six other nations facing climate risks called `pathfinder countries` will be the first recipients of `Global Shield` funding, it was announced at the COP27 summit in Egypt on November 14, 2022. Bangladesh, Costa Rica, Fiji, Ghana, the Philippines and Senegal were identified as the other recipients of the package by the Vulnerable 20 Group of Finance Ministers (V20) of 58 climate-vulnerable economies and the Group of Seven (G7).
• The `Global Shield` initiative for pre-arranged financial support has been designed to be quickly deployed in times of climate disasters.
• According to the joint press release of V20, G7 and the German Ministry of Economic Cooperation and Development, the Global Shield will start its implementation immediately after COP27.
• Germany is providing some 170 million euros as seed contribution, of which 84m euros are core funding to the Global Shield and 85.5m euros for related climate risk finance instruments.
2. Pakistan population growing at annual rate of 1.9pe: UN
• As the world population has reached eight billion, the United Nations Population Fund (UNFPA) says population is growing in Pakistan at an average annual rate of 1.9 per cent, and nearly 3.6 children are born to a woman on average in the country.
• UNFPA said in a press release issued here on November 14, 2022 that Pakistan is among the eight countries where more than half of the increase in global population leading up to 2050 will be concentrated. The other countries are DR Congo, Egypt, Ethiopia, India, Nigeria, the Philippines and Tanzania.
• According to UNFPA, half of the population that made up the increase from seven billion in 2011 to eight billion now is from Asia.
• It says that eight billion population figure is a milestone for humanity and a moment of reflection. It is time for Pakistan to take stock of the situation and act on the issue
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3. `Pakistan needs $348bn to deal with climate shocks`
• Stressing the need for a collaborative action plan to deal with climate change, Minister for Climate Change Sherry Rehman said Pakistan will need $348 billion until 2030 `to keep its head above water` in the wake of recurring `climate shocks`.
• In her address to the COP27 conference, the minister said even if low-emission countries like Pakistan completely transition to renewable energy, they will not be saved from the impact of global warming.
• She was delivering a keynote address to the parliamentary meeting, jointly held by the Inter-Parliamentary Union (IPU) and the Egyptian House of Representatives
4. ECC okays 27pc hike in Kissan loan package
• The Economic Coordination Committee (ECC) of the Cabinet on November 14, 2022 approved Kissan Package with a 27 per cent increase in agriculture loan target to Rs1.8 trillion and reshaped Kamyab Jawan Programme and Kamyab Pakistan Programmes through consolidation of their similar schemes.
• The meeting of the ECC presided over by Finance Minister Ishaq Dar also approved the standard legal framework for mega solar power projects, the transfer of 2,530 kanal land from the State Engineering Corporation of the Ministry of Industries to the Heavy Mechanical Complex of Special Plans Division at a nominal price and further increased the limit for the premium payable on import of high-speed diesel to avert supply chain disruption.
• The ECC, however, deferred a demand of the Election Commission of Pakistan for a Rs47.417bn supplementary grant for the conduct of general elections
5. Natural disasters affected 50m in Asia last year: report
• Economic losses from drought, floods and landslides have rocketed in Asia, and last year alone, weather and water-related hazards caused total damage of $35.6 billion, affecting nearly 50 million people, according to a report, entitled `State of the Climate in Asia 2021`, released on November 14, 2022.
• The report, which was produced jointly with the UN Economic and Social Commission for Asia and the Pacific (ESCAP), was presented during the UN climate change negotiations, COP27, in Sharm El Sheikh, Egypt.
• It shows how, compared to the average in the past 20 years, economic losses are on the rise for most types of disasters. Economic damage from drought has increased by 63 per cent, from floods by 23pc, and from landslides by 147pc, compared to the 2001-2020 average
