BAKU: Chairman NDMA Lieutenant General Inam Haider Malik emphasized the critical role of timely access to funds in enhancing disaster response and recovery during a panel discussion on “Global Climate Finance Mechanism, Assessing Equity and Effectiveness” held in Baku today. He highlighted the importance of pre-arranged financing instruments, including contingency funds and insurance products, to bolster financial readiness for disasters.

According to Ministry of Information and Broadcasting, the Chairman outlined Pakistan’s climate finance strategy for COP-29, stressing the focus on adaptation and resilience over mere mitigation efforts. He urged for financial commitments that address the urgent adaptation needs of vulnerable nations like Pakistan. Furthermore, he advocated for regional cooperation, proposing alliances with neighboring countries facing similar climate risks to strengthen Pakistan’s position in international negotiations for equitable financing access.

Chairman NDMA also called for the integration of disaster risk financing tools such as sovereign risk pools, public asset insurance, and community-level micro insurance schemes to mitigate climate-related losses. The session gathered global experts to explore financing solutions essential for effective disaster response and climate resilience.

Additionally, the Chairman met with Henry Gonzalez, Chief Investment Officer of the Green Climate Fund, in Baku, Azerbaijan. Their discussions centered on developing a framework for Green Climate Fund accreditation to address climate-induced disasters. Chairman NDMA underscored the importance of early warning systems and anticipatory actions at the National Emergencies Operations Center.

Both parties agreed to host a bilateral workshop in Islamabad to further develop a comprehensive framework aimed at creating a disaster-resilient Pakistan.