Prime Minister of Pakistan Calls for Climate Finance Action at COP29
Reuters
The Prime Minister of Pakistan Shehbaz Sharif delivered a powerful call for urgent international climate finance, at the climate summit in Baku.
He stressed that developing nations will need an estimated $6.8 trillion by 2030 to meet their climate commitments.
The Prime Minister's remarks highlighted the immense financial challenges facing countries like Pakistan, which, despite significant progress with its national adaptation plan and carbon market framework, cannot achieve its climate goals without substantial global support.
"While Pakistan has made strides in combating climate change," Prime Minister Sharif said, "we cannot do it alone. The scale of the challenge is far too great, and the financial resources needed to meet our climate targets are beyond our reach without international assistance."
Sharif urged COP29, under Azerbaijan's leadership, to transform into a “finance COP,” one that prioritizes restoring trust in the climate finance process and significantly scales up funding for developing nations.
He emphasized that climate finance must be grant-based and should not add to the already heavy debt burdens of developing countries, which are already grappling with the impacts of climate change.
"Developing countries are on the frontlines of climate change. We need the world to honor its promises and provide the resources necessary to build resilience and ensure a sustainable future," Prime Minister Sharif asserted.
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