Federal Minister for Climate Change Senator Sherry Rehman convened a meeting of the Taskforce on Green Financing, discussing at length, the framework and policies required to deal with the access to climate funds. The meeting was attended by Dr Jahanzaib Khan, SAPM on Government Effectiveness, and representatives from Economic Affairs Division, Foreign Affairs and Finance Division.
Talking on the issue of Green Financing, Minister Rehman stressed, “We are unable to unlock any climate financing despite our need for $101 Billion merely for EV Transition. GEF and GCF are the sole UNFCCC entities in Pakistan, dealing with climate financing. But the funding process is lengthy and ineffective. Adaptation rebuilding and mitigation would require sizeable funding that is yet to materialize. We need to look at our own ability to establish climate governance across provinces.”
In conclusion, she stressed, “At this point, in the 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 the flood-hit. We need to look for other donor platforms, which can provide our country with the much-needed resilience and recovery funds. Speed and scale for adaptation climate finance will be on the agenda for the upcoming COP.”
