Pakistan needs $50b to tackle climate change: Dr Shamshad Akhtar
Pakistan
Dr Akhtar urged the government to take steps to secure funding from international organisations
KARACHI (Dunya News) – Former finance minister Dr Shamshad Akhtar has said that Pakistan needs $50 billion to tackle climate change.
Addressing the third Pakistan Climate Conference, Dr Shamshad Akhtar said Pakistan ranks as the fifth most vulnerable country to the severe impacts of climate change. She said the country received only 1.8% of its required funding to combat climate challenges.
Dr Akhtar urged the government to take steps to secure funding from international organisations to address climate change. She pointed out that climate challenges had reduced Pakistan's GDP by 3%.
The former finance minister mentioned that green sukuk bonds had been launched to enhance climate financing in the country. She added that introducing banking products for green financing was a promising option.
Dr Shamshad Akhtar further stressed the need to work on a green energy policy to ensure the success of the China-Pakistan Economic Corridor (CPEC).
