Federal Minister for Planning and Development, Ahsan Iqbal, has stated that the government is focusing on addressing climate change-related issues.
Addressing an international conference on climate change, Ahsan Iqbal emphasized that provinces play a crucial role in implementing climate change policies and that the government is actively working on these issues.
He highlighted that climate change poses serious threats to the entire world, including Pakistan. The Federal Ministry of Planning collaborates with provinces to formulate a national policy.
Furthermore, Ahsan Iqbal stated that Pakistan is a signatory to the Paris Agreement, under which it is committed to taking measures for climate change mitigation and environmental protection. He reiterated that tackling climate change remains a top priority for the government of Pakistan.
Earlier, former finance minister Dr. Shamshad Akhtar stated that Pakistan requires $50 billion to combat the effects of climate change.
Speaking at the third Pakistan Climate Conference, she highlighted that Pakistan is the fifth most vulnerable country to climate change impacts and has only received 1.8% of the needed funding to address these challenges.
Dr. Akhtar urged the government to seek financial support from international organizations to tackle climate issues, noting that climate change has already reduced Pakistan’s GDP by 3%.
She also mentioned the launch of green sukuk bonds to boost climate financing and suggested the introduction of banking products focused on green financing as a viable solution.
Additionally, Dr. Akhtar emphasized the importance of developing a green energy policy to ensure the success of the China-Pakistan Economic Corridor (CPEC).
