Daily Times

As Pakistan celebrates its 77th Independence Day, the air is filled with fervour, pride, and nostalgia. Yet, amidst the discussions on debt, inflation, and corruption, a critical issue remains conspicuously absent: climate change. While the nation immerses itself in the festivities, we must redirect some of our attention to this existential threat that looms larger than ever. Ranked as the fifth most vulnerable country on the Global Climate Risk Index, Pakistan is grappling with environmental crises that are being overshadowed by immediate economic concerns.

August 14 is more than just a day to celebrate our national pride; it is a moment to pause and consider the formidable challenges that lie ahead, with climate change at the top of the list. Pakistan’s vulnerability to climate change is undeniable, and the nation’s future prosperity is inextricably linked to how effectively we respond to this global crisis.

August 14 is more than just a day to celebrate our national pride; it is a moment to pause and consider the formidable challenges that lie ahead, with climate change at the top of the list.

The devastating floods of August 2022 serve as a grim reminder of climate change’s impact on our homeland. The Post Disaster Needs Assessment report highlighted an economic toll that is nothing short of catastrophic-Rs3.2 trillion in damages and Rs3.5 trillion required for recovery. These floods, aggravated by heatwaves, melting glaciers, and unsustainable land use, are not mere acts of nature but a direct result of human-induced climate change. Their repercussions on public health, agriculture, water resources, and economic stability underscore the urgency of the situation. Pakistan can no longer afford to be a passive observer in this battle.

Progress and Paradoxes

In response to these unprecedented challenges, Pakistan has made notable strides. The Pakistan Climate Change Act of 2017, the National Climate Change Policy, and various regulatory measures signal a commitment to addressing environmental issues. The government’s pledge to reduce emissions by 50 percent by 2030 and initiatives like the Ten Billion Tree Tsunami and the Clean Green Pakistan campaign are commendable. The judiciary has also played a pivotal role by expanding the interpretation of constitutional rights to include the right to a healthy environment.

Yet, despite these efforts, the reality on the ground paints a different picture. The impact of these policies remains largely invisible in the daily lives of our citizens. The 2022 floods starkly exposed the vulnerabilities in our infrastructure and the inadequacies in our preparedness. More decisive action is needed – and it is needed urgently.

The Funding Conundrum

One of the most formidable challenges in implementing our climate policies is attracting the necessary funding. Despite a growing global focus on climate investments, Pakistan has struggled to secure adequate climate financing. An evaluation by the Asian Development Bank revealed that Pakistan has received the least amount of climate financing among comparable countries over the past decade. This shortfall is alarming, as achieving our climate goals under the Paris Agreement requires significant financial resources. Creating a more favourable investment climate for climate-aligned projects and aligning our policies with global climate objectives is not just desirable-it is essential.

A New Frontier: ESG Compliance

Pakistan’s adherence to Environmental, Social, and Governance (ESG) principles is another area where we lag significantly. Ranked 161st globally in ESG compliance, we must intensify our efforts. Incorporating ESG principles into our corporate and financial sectors is not merely about improving global rankings; it is about ensuring long-term sustainability, resilience, and societal well-being. The guidelines from the Securities and Exchange Commission of Pakistan and the State Bank of Pakistan are steps in the right direction, but they must be implemented rigorously and consistently.

Renewable Energy: A Beacon of Hope

Amid the challenges, Pakistan’s renewable energy sector offers a glimmer of hope. With a focus on wind and solar power, we are gradually moving towards a more sustainable energy landscape. However, this journey is fraught with obstacles – high fuel costs, dependency on imports, and outdated infrastructure continue to impede progress. The International Monetary Fund and other global organizations have emphasized the importance of green innovation in reducing emissions and stimulating economic growth. For Pakistan, this means supporting not only large-scale projects but also smaller, scalable ventures that can make a tangible difference.

The Bigger Picture: Climate Change as a Socio-Economic Issue

It is crucial to recognize that climate change is not just an environmental issue; it is a socio-economic one that permeates every facet of our lives. The textile industry, a significant contributor to our GDP, is under immense pressure to comply with emerging global sustainability regulations. Failure to do so could lead to substantial trade losses, particularly in markets like Germany, where environmental compliance is increasingly critical. By prioritizing sustainability, we not only safeguard our environment but also enhance our competitiveness in the global market.

A Collective Effort for a Greener Future

Navigating these complex challenges requires more than just government action. It demands a collective effort from all sectors of society. Businesses must embrace ESG principles, citizens must adopt more sustainable lifestyles, and the international community must support our efforts through increased climate financing.

On this Independence Day, let us reflect on what true independence means in the context of climate change. It is about securing our future by taking bold, innovative actions today. It is about understanding that we are all in this together and that the consequences of inaction will be felt by every one of us. As a nation, we possess the resilience and ingenuity to overcome these challenges, but we must act decisively-and we must act now.

A Vision for the Future

The road ahead is undoubtedly challenging, but it is a road we must travel. By prioritizing climate action, we can ensure that future generations inherit a Pakistan that is not only free but also green, prosperous, and sustainable. Let this Independence Day be a turning point – a day when we reaffirm our commitment to protecting our environment and securing a better future for all. In the words of Rabindranath Tagore, “The highest education is that which does not merely give us information but makes our life in harmony with all existence.” It is time for us to harmonize our actions with the needs of our planet, ensuring that the dawn of a greener Pakistan is not just a dream, but a reality.

The writer is a policy analyst and a researcher currently working at SDPI. She holds a Master’s degree in Public Policy from King’s College London. The views expressed in this article are those of the author, Soha Nisar, and do not necessarily reflect the views or positions of any organization.