Pakistani Prime Minister Shehbaz Sharif urged for “flexible” financial support to build climate-resilient infrastructure at the “Breathe Pakistan” conference. Despite minimal contributions to climate change, Pakistan suffers severe consequences, needing $40 to $50 billion annually to combat challenges. Past pledges of about $10 billion have not translated effectively to on-ground assistance following devastating floods in 2022.
In addressing the climate crisis, Pakistani Prime Minister Shehbaz Sharif emphasized the necessity for developing nations to secure “flexible” financial support to construct infrastructure resilient to climate change. He articulated that without this support, the journey toward climate adaptation and green transformation would be hindered. Speaking at the “Breathe Pakistan” climate change conference in Islamabad, he highlighted that despite contributing less than one percent to global emissions, Pakistan remains among the nations most adversely impacted by climate change.
Pakistan faces severe challenges due to climate change, with the nation requiring substantial investments ranging from $40 billion to $50 billion annually until 2050 to effectively tackle these issues. The country has suffered from prolonged droughts, devastating floods, and extreme heat waves, which have had dire consequences on its economy and populace. The floods of 2022, which submerged a significant portion of the country, resulted in over 1,700 fatalities and inflicted approximately $30 billion in economic losses.
The call for flexible financial support is critical for Pakistan as it seeks to build resilience against climate change impacts. The insufficient financial assistance following the devastating floods of 2022 further exacerbates the need for sustainable funding mechanisms. As collaborative efforts continue through international conferences and global pledges, the urgency for immediate and effective financial solutions remains paramount to foster climate adaptation and promote economic recovery in Pakistan.
Original Source: www.aa.com.tr
