December 20, 2024 (MLN): Pakistan needs $348 billion in climate finance between 2023 and 2030 to combat climate change's socioeconomic impacts, said Romina Khurshid Alam, Coordinator to the Prime Minister on Climate Change.
During today's national meeting on Sustainable Development Goals (SDGs), she urged that this funding is crucial for addressing the country’s needs in adaptation, mitigation, and resilience, as per the press release issued today.
She warned that the cost of inaction on climate change is substantial and pointed out that, despite these urgent requirements, available financial resources remain limited.
She highlighted that SDG-13 (Climate action) underpins and is the cornerstone for achieving our ambitious sustainable development goals and targets, which calls for taking urgent coping actions to combat climate change.
Sharing adaptation and mitigation policy measures of the present government, Romina Khurshid Alam explained, "The Green Pakistan Programme, launched by the climate change and environmental coordination ministry, is helping sequester 149 MtCO2e."
She further elaborated that this is being achieved through reforestation, biodiversity initiatives, and the protection of critical areas.
Electric Vehicle (EV) policy is set to reduce emissions by 23 MtCO2e by 2030, while our renewable energy policy is expected to save 70 MtCO2e by the same year.
Efforts on Nationally Determined Contribution (NDC) 3.0 are in progress, aligning Pakistan’s climate goals with the Paris Agreement.
Ms. Romina also informed the participants that the Ministry of Climate Change and Environmental Coordination (MoCC&EC) is actively working on Pakistan's biennial transparency report (BTR) and Third National Communication (TNC), fulfilling UNFCCC and Paris Agreement reporting obligations.
Additionally, policy guidelines for carbon market trading are nearing completion, and a national climate finance strategy has been developed to enhance resource allocation, she added.
"Climate budget tagging is also underway to track climate-related expenditures transparently," the PM’s climate aide said.
"Additionally, a Green Tech Hub has been launched to drive innovation in climate technology, and we have strengthened international cooperation through engagements with the CVF-V20, Global Shield, UK Green Compact, and other partners to mobilize climate finance for resilience-building initiatives." She further noted.
She recalled that the devastating climate-induced floods of 2022, which resulted in over $30 billion in damages, served as a stark reminder of Pakistan's vulnerabilities.
Coordinator to Prime Minister on Climate Change, Romina Khurshid Alam emphasized that despite contributing less than 1% to the total global carbon emissions, Pakistan ranks as the 5th most impacted country in the world due to climate change.
Speaking at a here on Friday, she informed the participants that the effects of global warming are already visible in Pakistan, citing the increasing frequency of droughts, floods, erratic weather patterns, changing agricultural practices, dwindling freshwater supplies, and loss of biodiversity.
The recurring adverse impacts of global warming on the country’s various socioeconomic sectors, particularly agriculture, energy, water, health, and education have already put the country’s efforts for achieving sustainable development goals at stake, she added.
"Frequent, prolonging, and intensifying droughts and floods disrupt agriculture, jeopardizing food security and livelihoods across Pakistan," remarked Romina.
She further added, "The Constitution of Pakistan guarantees the right to a clean, healthy and sustainable environment; and thus, environmental protection is a fundamental human right for all Pakistanis."
These costs continue to rise as Pakistan grapples with severe economic challenges, including rising inflation, high indebtedness, currency depreciation, and depleted foreign reserves, the PM’s climate aide added.
To achieve the climate action SDG goal, we need to focus on integrating climate change concerns into national policies, enhancing education and awareness., she said.
"Additionally, improving institutional capacities for climate change mitigation, adaptation, and strengthening early warnings for effective disaster management is crucial," the PM’s climate aide suggested.
Despite these challenges, Pakistan has made significant strides, using its own limited budgetary and technical resources.
Romina also highlighted the establishment of the Pakistan Climate Change Authority, which is strengthening institutional capacity to address climate challenges effectively.
She noted the ministry’s role in hosting the Asian Forum of Parliamentarians on Population and Development (AFPPD) climate and gender conference in Islamabad, which led to the issuance of the Islamabad declaration on climate change and gender quity.
"Pakistan is committed to confronting the climate crisis with urgency and determination, as we work towards a sustainable future for all," concluded Romina.
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Posted on: 2024-12-20T20:31:58+05:00
