BAKU,):Prime Minister Shehbaz Sharif on Wednesday sensitizing the global community on the risks posed by climate change and the vulnerabilities of developing countries, called for grant-based climate finance that should not add to the debt burden of the developing nations.
The prime minister, addressing the High-Level Segment of the “World Leaders’ Climate Action Summit” of the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) here, called for fulfilling the pledges of COP27 and COP28 as well as those made in Paris 10 years ago.
“I strongly feel, that climate finance must be grant-based and not add to the debt burden of vulnerable developing countries. Here is the opportunity that the COP29 should make an understanding loud and clear that we will have to fulfill those financial pledges of COP27 and COP28… Ten years ago in Paris, we had failed to stop the rise in emissions and catastrophic global warming. The Paris pledges made 10 years ago have yet to see the light of the day,” the prime minister said.
He viewed that the COP29 would help understand the calamities already faced by some of the countries and others might face if counter-measures were not taken to create a conducive environment to avert calamities like the one faced by Pakistan in the form of 2022 floods which left millions of the people homeless, millions of house and acre of land submerged, standing crops destroyed, and almost 1700 people dead. Besides, the country also faced an economic loss worth around $30 billion, he added.
He told the gathering of heads of state and government that Pakistan was one of those countries that hardly contributed half a percent of global emissions but was among the most vulnerable countries at risk of similar devastations.
“Without climate justice, there can be no real resilience and I don’t want other countries to face what Pakistan faced in 2022. Pakistan is a resilient, hardworking and responsible nation. We are fully committed to becoming part of the global climate solutions,” he assured.
Prime Minister Shehbaz told the summit that his government had taken concrete actions to deliver on its commitment to producing 60% of all energy from clean sources and shifting 30% of vehicles to Electric Vehicles (EVs) by the end of this decade. At the same time, Pakistan is going through a renewable energy revolution, he said and also mentioned the presentation of a comprehensive National Adaptation Plan last year and the National Carbon Market Framework this year.
“But we cannot do it alone. Pakistan needs international support to deliver on its climate ambition. The developing countries will need an estimated $6.8 trillion by 2030 to meet at least half their NDCs… We believe that COP29 can transform into Finance COP by restoring confidence in scaling up climate finance,” he remarked.
“Two years ago, I warned that the future would never forgive inaction. Today, I echo that warning with greater urgency and the fullest energy. We know the causes. We know the solutions. Now, we must find the courage to act and act swiftly,” he urged.
