Islamabad: Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, chaired a significant meeting with a delegation from the United Nations Environment Program (UNEP) today, focusing on enhancing Pakistan’s climate resilience and establishing effective carbon market policies.

According to Ministry of Planning Development and Special Initiatives, Minister Iqbal discussed the severe impact of recent climate-related disasters on Pakistan, which have inflicted economic damages estimated at $30 billion, particularly affecting Balochistan and Khyber Pakhtunkhwa. He emphasized the nation’s urgent need for substantial investment to bolster climate resilience and recover from these devastating impacts.

The Minister pointed out the discrepancy between Pakistan’s minimal contribution to global carbon emissions and the disproportionate effects of climate change it faces, such as floods and extreme temperatures. He highlighted the necessity of international cooperation and support, especially in light of the overwhelming majority of financial commitments at the 2022 Geneva conference being offered as loans, which he noted adds significant financial burden.

The discussions also touched on Pakistan’s commitment to transitioning towards low-carbon solutions and enhancing sustainable energy projects under the leadership of Prime Minister Mian Shehbaz Sharif. Minister Iqbal expressed eagerness for UNEP’s support in these initiatives, aiming to forge partnerships that facilitate economic growth through environmentally sustainable investments.

This meeting marks a crucial step in Pakistan’s proactive approach to address climate challenges, seeking to strengthen international collaborations for a resilient and sustainable future.