For the first time in the country's history, Pakistan has announced its new climate finance strategy to be implemented by 2030, Pakistani Prime Minister's Coordinator for Climate Change, Rumina Khurshid Alam said during an event at the national pavilion of the country at COP29, APA reports.
She explained that the strategy is based on sustainable and climate-change mitigation elements. Alam also highlighted that Pakistan will need $348 billion by 2030 to address climate issues, noting the significant impact of the 2022 floods, which affected 33 million people.
She also outlined her expectations from the climate strategy: "This funding will be allocated to the realization of the smart city concept by 2050, the implementation of innovative financing mechanisms, and the achievement of other national climate-related goals. At the same time, it will be directed towards the development of inclusive climate policies aimed at marginalized groups, as well as the realization of sustainable development goals (SDGs)."
Pakistan's Finance Minister Muhammad Aurangzeb suggested that a roadmap for achieving these sustainable development goals should be agreed upon. He emphasized that utilizing various financial instruments and ensuring climate resilience will be key to advancing this agenda.
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