Islamabad: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal chaired a meeting on the carbon market with the United Nations Environment Program (UNEP) delegation. The meeting was attended by members and senior officials of the Ministry of Climate Change Planning.
Minister Ahsan Iqbal said the damage caused by the latest climate disaster to Pakistan’s economy is $30 billion. He said that the ongoing struggle to revive and rebuild the economy especially in the Balochistan and Khyber Pakhtunkhwa provinces was dire.
“Pakistan requires substantial investment to improve climate resilience and mitigate future climate challenges,” the minister said. Therefore, we are actively looking for opportunities to boost economic growth and attract investment. We must responsibly end our carbon policy by working effectively with our development partners to promote investment in Pakistan. . “
The minister said that despite Pakistan being the least responsible for global carbon emissions, the country is facing severe consequences in the form of floods, abnormal rainfall and extreme heat. He stressed the responsibility of the international community to help countries like Pakistan that are facing climate-induced disasters, despite having made significant contributions to the cause.
“More than 95% of the commitments at the Geneva 2022 conference are in the form of loans, and despite our important role in solving this problem, we have a heavy burden,” he said.
He also said that Prime Minister Mian Shehbaz Sharif’s ambitious renewable energy plan aimed at developing sustainable energy projects.
Addressing the UNEP delegation, the minister said, “We welcome your support to work together to improve the environment and reduce future disasters.”
The meeting highlighted Pakistan’s proactive stance against climate change and its serious efforts to seek international cooperation for sustainable development and disaster mitigation.
