New York: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, addressed a gathering at the Climate Implementation Bridge (BRIDGE) in New York, stressing the necessity for climate commitments to produce tangible benefits for communities.

According to Press Information Department, the Finance Minister outlined three essential elements for successful implementation: a robust policy framework, accessible financing, and the capacity to execute projects at the national level. He also discussed Pakistan’s strides in climate policy and its efforts to secure funding from domestic sources, international financial institutions, capital markets, and climate-specific funds.

The Minister pointed out ongoing challenges, such as institutional fragmentation and the lack of investable projects, which impede effective execution. Citing the 2022 floods, he noted that although international support was pledged, some remained unused due to the absence of suitable projects.

The Finance Minister expressed appreciation for Pakistan’s role in the BRIDGE initiative and called on partners to achieve consensus on actionable decisions that would transition the initiative from dialogue to implementation.