Islamabad, Jan 28: The third Pakistan Climate Conference, hosted by the Overseas Investors Chamber of Commerce and Industry (OICCI), commenced today at the Mövenpick Hotel in Karachi. This two-day event brings together policymakers, business leaders, environmental experts, and thought leaders to address Pakistan’s escalating climate crisis and chart actionable paths for mitigation and adaptation.
Federal Minister for Finance & Revenue Muhammad Aurangzeb addressed the conference virtually, emphasizing the urgency of climate finance for Pakistan. He highlighted the country’s vulnerability, citing its ranking among the top 10 most climate-affected nations and the catastrophic $30 billion in damages caused by the 2022 floods.
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The Minister stressed that Pakistan needs an estimated $348 billion by 2030 to meet its climate targets, underlining the necessity for innovative financing mechanisms such as green bonds, sustainability-linked loans, and carbon credits. He called for leveraging international funding sources like the Green Climate Fund and the Adaptation Fund while lauding the success of Pakistan’s first green Eurobond, which raised $500 million in 2021.
Dr. Shamshad Akhtar, Chairperson of the Pakistan Stock Exchange and former Finance Minister, delivered the keynote address, urging the integration of climate resilience into national economic strategies. She highlighted that climate vulnerabilities are among Pakistan’s greatest economic threats, stressing the need for a midterm strategic financing plan aligned with the country’s climate goals. She warned that failure to address these challenges would severely undermine economic stability and progress.
Yousaf Hussain, President of OICCI, reaffirmed the chamber’s dedication to sustainable development. He stressed the importance of public-private partnerships and collaborative initiatives in achieving Pakistan’s climate objectives. Calling for collective action, he underscored the conference’s role as a catalyst for transformative change, aiming to address sustainability challenges and build a resilient future for the country.
The conference features a diverse agenda, including panel discussions and expert presentations on climate finance, the economic impacts of climate change, decarbonization, circularity, and the role of public-private partnerships in fostering climate resilience.
Day two will center on policy recommendations and innovative business strategies, concluding with a unified call to action for stakeholders to implement effective climate solutions.Supported by leading organizations, the event underscores a collective commitment to sustainability and a secure future for Pakistan.
