Pakistan, CVF-V20 highlight key climate initiatives in meeting

February 03, 2025 (MLN): The Climate Vulnerable Forum (CVF)-V20 delegation, representing finance ministers from climate-vulnerable nations, highlighted key initiatives in Pakistan during a meeting with Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division.

These initiatives included the launch of the country’s Carbon Market Policy and the establishment of the Panel on Coordinated Access to Net Zero, set to be unveiled at COP29.

Led by Ms. Sara Jane Ahmed, Managing Director of CVF-V20, the delegation engaged in in-depth discussions on climate risk mitigation, climate finance for adaptation and mitigation measures, agricultural insurance, and urban flood resilience.

Additionally, they discussed opportunities for development financing through Paris-Aligned Carbon Markets to accelerate Pakistan’s progress toward its climate goals, according to the press release issued today.

Minister Aurangzeb emphasized the environmental and climate risks faced by Pakistan and stressed the need for building resilience through effective climate adaptation and disaster preparedness strategies.

He highlighted that Pakistan had recently explored multiple funding avenues in collaboration with international organizations such as the United Nations Development Programme (UNDP) and the World Bank (WB), with the goal of mitigating the impacts of climate change.

The Minister also emphasized the importance of global cooperation in tackling these challenges.

He noted that support from the V20, along with the Group of Seven (G7) and other countries under the ‘Global Shield,’ is crucial for strengthening pre-arranged protection against climate and disaster-related risks for vulnerable populations.

He called for better coordination of funding initiatives and capacity-building efforts to combat climate risks and related disasters.

Furthermore, Senator Aurangzeb reiterated Prime Minister Shehbaz Sharif’s strong commitment to building the disaster resilience of Pakistan’s socio-economic sectors, particularly agriculture, water, energy, health, and education.

The Prime Minister’s goal is to ensure that Pakistan becomes resilient to the impacts of climate change, at any cost.

The CVF-V20 delegation included Mr. Hamza Haroon, Regional Director for South Asia; Ms. Abena Takyiwaa Asamoah-Okyere, Director of Country Platforms; Mr. Marzio Colantuoni, Research Analyst; and Ms. Ameera Adil, Special Initiatives Lead for Pakistan.

They engaged in productive discussions with senior officials from the Ministry of Finance and the Ministry of Climate Change.

The dialogue reinforced Pakistan’s commitment to global climate action and strengthened its role in the fight against climate change.

The meeting concluded with a shared understanding of the critical need for coordinated, multi-stakeholder efforts to address the growing challenges posed by climate change and to safeguard vulnerable populations.

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