IFC, Pakistan collaborate on climate financing & sustainability

March 03, 2025 (MLN): Pakistan is set to enhance its climate resilience through strengthened collaboration with the International Finance Corporation (IFC), focusing on capacity building, climate financing, and sustainable transportation solutions.

As part of these efforts, a four-member delegation led by Global Director for Climate at the IFC, Jamie Fergusson, met with Coordinator to the Prime Minister for Climate Change, Romina Khurshid Alam, at her office to explore avenues for deepening cooperation in addressing climate challenges.

The meeting focused on enhancing the partnership between the IFC and the Ministry of Climate Change, with an emphasis on improving Pakistan’s ability to respond to climate change.

Both Ms. Alam and Mr. Fergusson highlighted the need for stronger collaboration to empower environmentalists, academics, and technical experts in combating climate challenges.

Ms. Alam stressed the urgency of increasing access to climate funding, particularly for developing nations like Pakistan, as per the press release issued today.

She noted that despite contributing minimally to global emissions, Pakistan remains highly vulnerable to climate disasters such as floods, droughts, and extreme temperatures.

She called for streamlined access to climate finance to support large-scale adaptation and mitigation initiatives.

Secretary of the Ministry of Climate Change, Aisha Humera Moriani, discussed the role of electric vehicles (EVs) in reducing carbon emissions and improving air quality.

She emphasized the growing demand for electric two-wheelers in Pakistan, noting their potential to lower reliance on fossil fuels and enhance urban air quality.

The delegation acknowledged the significance of this initiative and expressed interest in collaborating on sustainable transportation solutions.

Jamie Fergusson commended Ms. Alam’s leadership in advocating Pakistan’s climate priorities at COP29 and reaffirmed the IFC’s commitment to providing technical expertise and strategic guidance.

He recognized Pakistan’s vulnerability to climate change and underscored the necessity of global cooperation in supporting the country’s climate resilience efforts.

Both parties agreed that stronger collaboration between Pakistan and international financial institutions like the IFC is crucial for advancing the country’s climate agenda.

Ms. Alam reiterated her commitment to working closely with the IFC to secure resources for climate projects and involve local stakeholders to ensure tailored climate solutions.

The meeting concluded with a mutual commitment to further strengthening cooperation, with a shared focus on enhancing Pakistan’s climate resilience in the years ahead.

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