FinMin emphasizes role of climate in macroeconomic policies

April 23, 2025 (MLN): The integration of climate considerations into macroeconomic and financial policies is essential for sustainable development, emphasized Finance Minister Muhammad Aurangzeb, who also highlighted the importance of designing investable and bankable climate projects.

The aforementioned points were emphasized during his participation in the 13th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action (CFMCA), held on the sidelines of the IMF-World Bank Spring Meetings 2025.

During the meeting, the Finance Minister delivered a statement outlining Pakistan’s ongoing efforts to combat climate change through the development of a comprehensive Climate Prosperity Plan (CPP) and a Climate Finance Strategy.

He informed participants that the recently signed 10-year Country Partnership Framework with the World Bank incorporates climate-focused pillars aimed at enhancing resilience and supporting decarbonization efforts, according to the press release issued today.

In his briefing, the Minister also announced that Pakistan had reached a Staff Level Agreement with the International Monetary Fund (IMF) on a new arrangement under the Resilience and Sustainability Facility (RSF).

This arrangement is designed to support long-term balance of payments stability in the face of growing climate-related challenges.

Aurangzeb underscored the need for building capacity within both the public and private sectors to effectively address climate-related financial and policy issues.

He reaffirmed the necessity of creating projects that are not only climate-resilient but also attractive to investors and financial institutions, thereby strengthening Pakistan’s climate financing capabilities and sustainable development goals.

Copyright Mettis Link News