ISLAMABAD: Pakistan needs to mobilise local resources, align policies and revisit its financial framework to achieve 2030 global development agenda and to fulfill its commitments under the Paris Agreement.
Besides, focus should be made on cleaner and greener initiatives for an economy resilient to climate change. The environmental experts said this while speaking at ‘National dialogue on the role of National financial institutions in supporting low-carbon, climate resilient development in Pakistan’ organized by Sustainable Development Policy Institute (SDPI) in collaboration with UNESCAP here on Tuesday.
Romina Khursheed Alam, MNA and Chairwoman of Green Parliament Caucus, while speaking at the inaugural session of the dialogue said that the government was committed to support all the green initiatives that aimed at low-carbon and climate resilient society. She said that the formation of Green Parliamentarian Caucus was one of the initiatives by the parliament that reflects the seriousness of the legislators about this critical national issue.
Dr Abid Qaiyum Suleri, executive director SDPI, while highlighting the importance of low carbon and climate resilient development, said that the energy mix in Pakistan was comparatively cleaner and greener in the region as well as in the world. However, while making progress towards the economic growth and development, the energy needs of the country will be increased. He said, “We need remain mindful of the consequences of polluter sources of energy.”
While presenting various aspects of the Climate Change Policy of Pakistan, Dr. Qamar-uz-Zaman Chaudhry, on the occasion said that climate change related expenses need to be tracked down. He said, “Pakistan has currently produced its CPEIR report 2017 that has provided us the detail of all the expenses made on climate relevant activities on annual basis.”
The report has shown that the total climate relevant expenses remained around 8 percent of our GDP that needs to be enhanced. Dr Saleem Zia, Infrastructure Housing and SME Finance De Senior Economist Research Department State Bank of Pakistan (SBP), highlighted the role of the bank and other commercial banks in climate financing under green banking initiatives of the SBP. He said that it was a common myth that the banking sector is anti-environment and care more about profit.
