The Overseas Investors Chamber of Commerce and Industry (OICCI) on Tuesday launched its third Pakistan Climate Conference Report, underscoring the urgent need to mobilize climate finance at scale and availing partnerships with the private sector to build resilience.
The report, “Creating an Enabling Environment for Private Sector Participation in Climate Resilience,” notes that Pakistan ranks first on the Climate Risk Index 2025 despite contributing less than 0.9% to global greenhouse gas emissions. In 2022 alone, climate-induced disasters inflicted over $30 billion in damages, with recovery needs exceeding $16.3 billion. Air pollution causes over 128,000 premature deaths annually, while productivity in agriculture has declined by 10-20% due to climate variability, further straining livelihoods and the economy. Experts warn that Pakistan now requires $40-50 billion annually to effectively mitigate and adapt to climate risks.
“Pakistan’s climate vulnerability is a globally acknowledged reality,” Ministry of Climate Change and Environmental Coordination Secretary Aisha Humera Chaudhry told the launch event. “But to respond effectively, we must channel substantial and timely climate finance towards local solutions. The role of the private sector, as showcased by OICCI and its member companies, is central to our national climate strategy. We call on international partners to match Pakistan’s climate ambition with significant funding support,” she added.
The OICCI maintains the economic argument for climate finance is clear. Without urgent decarbonization, Pakistan’s exports face mounting risks under new global trade frameworks, such as the E.U.’s Carbon Border Adjustment Mechanism. OICCI Secretary General M. Abdul Aleem noted that the country’s reliance on fossil fuels and carbon-intensive practices puts exports at risk. “Decarbonization and green finance are no longer optional, they are essential to sustaining economic growth and global competitiveness,” he added.
Sustainable Development Policy Institute Executive Director Abid Suleri reinforced the need for collaborative policy and financing mechanisms. “In the context of eroding public and grant based climate finance, market-based solutions and private sector is not part of problem but an amicable solution to climate crises,” he said. “Climate catastrophes are not a future concern; it is today’s socioeconomic reality. Pakistan must now move beyond pledges and create an ecosystem where private investment in climate resilience is not only encouraged but enabled through consistent policy, data transparency, and accessible financing instruments,” he added.
Association of Chartered Certified Accountants President Ayla Majid similarly emphasized the role of skills and financial expertise in climate action. “Mobilizing climate finance is not just about securing funds, it is about ensuring they are deployed effectively, with transparency and measurable impact. Building the financial, technical, and governance capacities to manage these resources is key to turning commitments into real resilience for Pakistan,” she said.
The PCC report outlines actionable pathways in regenerative agriculture, industrial decarbonization, plastic circularity, and carbon market development. It emphasizes that climate funding must be paired with enabling policies and capacity building to close Pakistan’s climate financing gap.
The OICCI was the only private sector representative from Pakistan at COP28 and COP29. It continues to champion public-private partnerships for climate action, engaging with regulators, including the State Bank of Pakistan and the SECP, to advance green taxonomies and ESG reporting frameworks.