Finance Minister Muhammad Aurangzeb on Monday emphasized the need for global cooperation to address the adverse impacts of climate change.
In meeting with a delegation of the Climate Vulnerable Forum, a coalition of finance ministers from countries highly vulnerable to climate change, he emphasized the environmental and climate risks faced by Pakistan. Stressing on the need to build resilience through effective climate adaptation and disaster preparedness strategies, he noted that Pakistan is exploring multiple funding avenues in collaboration with international organizations to mitigate the impacts of climate change.
Aurangzeb noted that the support of the Forum, as well as the Group of Seven and other countries under the ‘Global Shield’, was essential to enhance 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.
The minister also apprised the visiting delegation of Prime Minister Shehbaz Sharif’s strong commitment to building the disaster resilience of Pakistan’s socioeconomic 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, he added.
Managing Director Sara Jane Ahmed led the Climate Vulnerable Forum delegation. It engaged in in-depth discussions on climate risk mitigation, climate finance for adaptation and mitigation measures, agricultural insurance, and urban flood resilience.
During the meeting, the Forum shared insights on initiatives undertaken in Pakistan, including the launch of the country’s Carbon Market Policy and the establishment of the Panel on Coordinated Access to Net Zero at COP29. Additionally, they explored opportunities for development financing through Paris-Aligned Carbon Markets, aimed at advancing the country’s climate goals.
The delegation also engaged in constructive dialogue with senior officials of the Finance Ministry and the Ministry of Climate Change, further cementing Pakistan’s role in the global 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.