Islamabad: The Ministry of Climate Change and Environmental Coordination, in partnership with key stakeholders, hosted a high-level consultation workshop on the National Climate Finance Strategy on Friday.
U.S. Ambassador Promotes Clean Energy and Climate Action During Lahore Visit
The workshop gathered officials from essential federal ministries including MoCC, Finance, Planning, Economic Affairs, Energy, Industries, Commerce, Food & Agriculture, along with representatives from provincial governments in Punjab, KP, GB, Balochistan, Sindh, and AJK, as well as international development partners, financial institutions, and civil society organizations to explore ways to enhance Pakistan’s climate finance mechanisms.
The National Climate Finance Strategy is a crucial part of Pakistan’s commitment to climate action under the Paris Agreement. Its objective is to improve the nation’s capacity to mobilize, allocate, and manage financial resources aimed at climate resilience and low-carbon development. With Pakistan facing escalating climate threats like floods, droughts, and rising temperatures, this strategy is intended to assist the country in transitioning toward a sustainable and climate-resilient future.
Key aims of the workshop included stakeholder engagement: collecting input and suggestions from a diverse group of stakeholders to ensure a well-rounded and inclusive approach to climate finance; resource mobilization: pinpointing opportunities to increase domestic and international climate finance resources, including private sector investments, to achieve Pakistan’s climate mitigation and adaptation objectives; capacity building: enhancing institutional capacities for climate finance planning and implementation at both national and sub-national levels; and international collaboration: aligning Pakistan’s climate finance initiatives with global climate finance frameworks and facilitating partnerships with multilateral financial institutions and international allies.
In her opening remarks, Secretary of the Ministry of Climate Change, Ms. Aisha Humera Ch., underscored the significance of strategic financial planning for climate resilience. “Pakistan is at the forefront of climate change. We need to ensure that financial resources are available to protect our most vulnerable communities while contributing to global climate objectives. The National Climate Finance Strategy will serve as a roadmap for effectively securing and utilizing necessary resources.”
The workshop featured presentations and discussions on various topics, including the climate finance landscape by CEO NDRMF, Bilal Anwer, and key aspects of the draft Climate Finance Strategy presented by Dr. Ali Tauqir Shaikh.
Following this, a technical working group session was conducted covering three main areas:
- Working Group One: Investigating Opportunities for Climate Finance Diversification
- Coordinator: Mr. Mohammad Rafiq Sahib, Member Climate Finance, Pakistan Climate Change Authority
- Working Group Two: Enhancing Climate Finance Governance for Implementing NCFS
- Coordinator: Syed Gulam Qadir, Member Coordination, Pakistan Climate Change Authority
- Working Group Three: Leveraging Private Sector Finance for Climate Action
- Coordinator: Mr. Saadullah Ayaz, Member Mitigation, Pakistan Climate Change Authority
Additional key stakeholders present included representatives from the Pakistan Environmental Protection Agency (Pak-EPA), the State Bank of Pakistan, SECP, international organizations like the United Nations Development Programme (UNDP), the World Bank, GIZ, and climate finance experts from academia and the private sector.
Participants engaged actively in discussions, sharing insights on policy gaps, financing obstacles, and opportunities to tap into private sector investments. The recommendations generated during the workshop will be incorporated into the final draft of the National Climate Finance Strategy, which will be submitted for government approval later this year.
Several participants also attended the workshop via Zoom. The Ministry of Climate Change reaffirmed its commitment to achieving sustainable development goals, with this workshop representing a vital step toward fulfilling Pakistan’s climate objectives by ensuring financial preparedness for future climate initiatives.
Mr. Zafar Masood, Chairman of the Pakistan Banks Association and President of the Bank of Punjab, concluded the workshop by commending the efforts of the Ministry of Climate Change. He stated that the National Climate Finance Strategy serves as Pakistan’s framework for mobilizing financial resources to support climate mitigation and adaptation efforts, outlining measures to scale up climate-related investments, attract international financing, and strengthen domestic financial systems to address the country’s climate challenges.The workshop concluded with a vote of thanks from the Ministry to all participants.
