BAKU: Prime Minister Shehbaz Sharif has called for a redefinition of global climate finance to better support vulnerable nations. In his opening remarks at the Climate Finance Roundtable Conference, he emphasized the need for more effective climate finance mechanisms under the UN Framework Convention on Climate Change.

According to Ministry of Information and Broadcasting, the Prime Minister highlighted that developing countries will require approximately $6.8 trillion by 2030 to implement less than half of their current Nationally Determined Contributions. He urged donor countries to honor their commitments to mitigate the adverse impacts of climate change.

Shehbaz Sharif also underscored the importance of focusing on non-debt financing solutions, which would allow countries to fund climate initiatives without incurring additional financial burdens.