Global fund deal 'pivotal step' for climate justice, says Pakistan PM

A historic United Nations deal struck on funding to help vulnerable countries cope with the effects of climate change is a "pivotal step" towards justice, Pakistan Prime Minister Shehbaz Sharif said Sunday.

The UN COP27 summit wrapped up Sunday in Egypt with a deal for a fund to help vulnerable countries cope "loss and damage" from devastating climate impacts.

"The establishment of loss & damage fund at the UN climate summit is the first pivotal step towards the goal of climate justice," Shehbaz tweeted.

Pakistan -- the world's fifth largest population -- is responsible for only 0.8 percent of global greenhouse emissions but is one of the countries most vulnerable to extreme weather caused by global warming.

Earlier this year Pakistan was struck by devastating monsoon floods that left nearly a third of the country under water, affecting more than 30 million people and leaving a repair bill estimated at nearly $30 billion.