Baku: Chairman NDMA, Lt. General Inam Haider Malik, represented Pakistan at the panel on “Global Climate Finance Mechanism, Assessing Equity and Effectiveness”, held at the ICESCO Pavilion during the COP-29 summit in Baku, Azerbaijan. The session convened global experts to discuss financing solutions critical for effective disaster response and climate resilience.

According to Press Information Department, in his remarks, Chairman NDMA highlighted the lessons drawn from Pakistan’s catastrophic 2022 floods, underscoring the importance of scalable and rapid disbursement financing mechanisms. He noted that timely access to funds significantly enhances disaster response and recovery efforts, advocating for pre-arranged financing instruments, such as contingency funds and insurance products, to strengthen financial preparedness.

He emphasized that Pakistan’s climate finance strategy for COP-29 prioritizes adaptation and resilience. The goal is to push for financing commitments that go beyond mitigation and address the urgent adaptation needs of vulnerable countries like Pakistan. He also pointed to the need for regional cooperation, suggesting that alliances with neighbouring countries facing similar climate risks could amplify Pakistan’s voice in international negotiations for equitable financing access.

Additionally, Chairman NDMA advocated for enhanced integration of disaster risk financing tools such as sovereign risk pools, public asset insurance, and community-level micro insurance schemes to protect against climate-related losses. NDMA’s participation at COP-29 underscores Pakistan’s commitment to addressing climate change and enhancing resilience through international cooperation and support.