ISLAMABAD: Minister for Climate Change Senator Sherry Rehman said ‘green financing’ was imperative for mitigation of climate change where adaptation plan was prerequisite to ensure climate resilience of country.

Minister convened a meeting of Taskforce on Green Financing, discussing at length, framework and policies required to deal with access to climate funds. Meeting was attended by Special Assistant to Prime Minister on Government Effectiveness Dr Jahanzaib Khan and representatives from Economic Affairs Division, Foreign Affairs and Finance Division. She stressed, “We are unable to unlock any climate financing despite our need for $ 101 billion merely for EV Transition.

GEF and GCF are sole UNFCCC entities in Pakistan, dealing with climate financing. But funding process is lengthy and ineffective. Adaptation rebuilding and mitigation would require sizeable funding that is yet to materialise. We need to look at our own ability to establish climate governance across provinces.” She stressed, “At this point, in flood-hit areas, we have no ability to execute climate governance. 33 million people have been affected badly.

All our climate resilience funds have been disbursed for helping flood-hit. We need to look for other donor platforms, which can provide our country with much-needed resilience and recovery funds. Speed and scale for adaptation climate finance will be on agenda for upcoming conference of parties.”

Published in The Daily National Courier, October, 13 2022

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