Islamabad, Nov 14: Romina Praises Acumen’s Climate Action Fund for Transforming Agriculture. Romina Khursheed Alam, the Prime Minister’s Climate Change Coordinator, praised the Acumen Climate Action Fund for Pakistan as a major step in strengthening the nation’s agricultural resilience in Pakistani food.
During the COP29 summit in Baku on Thursday, she spoke at the “Acumen’s Climate Action Fund for Pakistan” event hosted at the Pakistan Pavilion. According to her, the fund’s primary goal is to give agribusinesses patient financing, particularly smallholder farmers, who employ 90% of Pakistan’s agricultural workers.
She said that in light of Pakistan’s susceptibility to climate change, which is predicted to lower agricultural output by 8–10% by 2040, this program is essential to guaranteeing food security and encouraging sustainable farming methods in the face of escalating climatic issues.
Muhammad Aurangzeb, the Federal Minister of Finance, stressed the pressing need for creative climate adaption strategies to help the most impacted communities those that emit the fewest emissions worldwide. The Finance Minister outlined Pakistan’s accomplishments, pointing out the establishment of the nation’s first agriculture fund with an emphasis on climate resilience.
The Acumen Climate Action for Pakistan (ACAP) Fund will be the nation’s first private-sector fund with a climate focus, according to Aurangzeb. Pakistani food. He emphasized that the fund will focus on companies that improve agricultural climate resilience, especially helping small farmers and having an impact on the lives of up to 13.1 million farmers.
Pakistan is making its biggest private sector commitment to date through the Green Climate Fund. The Finance Minister added that by leveraging private capital from elite investors and drawing in foreign direct investment (FDI) to support local companies, the ACAP Fund will have a revolutionary climate impact in Pakistan.
ACAP is one of the first funds in the world devoted to climate adaptation, in addition to being Pakistan’s first single-country fund. To provide influential voices, it has developed close relationships with top investors,” he said Pakistani food. At the ceremony, representatives from USAID, the Green Climate Fund, and Acumen also gave speeches.
