The World Bank has called on Pakistan to reform its tax system and widen the tax base, saying stronger revenue is vital for economic stability and long-term development. It also urged the country to use environmental measures, such as discouraging pollution, as new ways to generate funds while protecting natural resources. Moreover, the report warned […]
climate finance
World spends far more on harming nature than protecting it, UNEP warns
The world spends nearly $30 destroying nature for every $1 invested in its protection, according to a new report by the United Nations Environment Programme (UNEP), highlighting a deep imbalance in global financial flows that threatens ecosystems and economic stability. Read More: Pakistan sends dossier to UN on ‘eco-terrorism’ by India The State of Finance […]
Pakistan needs over $560bn to meet climate transition goals
Pakistan will require nearly $566 billion in investment to deliver on its latest climate commitments by 2035, according to a briefing on green finance and sustainability disclosure frameworks held in Karachi on Wednesday. Read More: Pakistan, UK seal £35m Green Compact to boost climate resilience The country’s updated Nationally Determined Contributions (NDC) 3.0 outline a 17 percent […]
COP30 ends with mixed results, historic win for just transition
BELEM: COP30, held in the Brazilian city of Belem on the edge of the Amazon, concluded on Saturday a day later than scheduled, leaving delegates with mixed feelings. While some hailed the conference as a success, others expressed disappointment over inadequate climate finance and the failure to address fossil fuel phase-out. Read More: COP30 highlights forest […]
Pakistan calls for climate finance, tech transfer on COP30 sidelines
Pakistan has renewed its call for urgent, predictable and equitable climate finance, enhanced technology transfer and stronger international cooperation to support climate-vulnerable countries, during a series of high-level side events organized by the Ministry of Climate Change and Environmental Coordination (MoCC&EC) on the sidelines of the UN Climate Summit (COP30) in Belem, Brazil. The sessions, […]
Pakistan demands stronger climate finance at COP30
Pakistan has pressed the UN climate leadership for a major scale-up in global climate finance and stronger support for adaptation, as senior officials met on the sidelines of the COP30 summit in Belem, Brazil. In a bilateral meeting with the UNFCCC Executive Secretary, Simon Stiell, Pakistan’s head of delegation and Secretary for Climate Change, Aisha […]
SBP governor for regional capital market integration to mobilise climate finance
State Bank of Pakistan (SBP) Governor Jameel Ahmad on Tuesday called for integration of regional capital markets to mobilise financing for critical projects, including related to climate change and infrastructure. He noted that the banking sector alone could not meet the country’s long-term investment needs, saying the domestic economy moved toward a higher growth trajectory. […]
Finmin highlights urgent need to mainstream climate finance
Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Thursday emphasized the need for pragmatic, coordinated, and forward-looking approaches to climate finance and sustainable development. While speaking at the 28th Sustainable Development Conference (SDC) organized by the Sustainable Development Policy Institute (SDPI), the minister noted that despite global uncertainty, the world economy continues to show […]
IMF Cannot Impose Conditions Against Pakistan’s Interests, Says Aurangzeb
WASHINGTON — Finance Minister Muhammad Aurangzeb said on Saturday that the International Monetary Fund (IMF) cannot impose any conditions that go against Pakistan’s national interests. Speaking at the Pakistan Embassy in Washington, Aurangzeb said that all IMF-backed reforms were consistent with Pakistan’s economic priorities and had helped stabilise the national economy. “Please name any IMF-suggested […]
Pakistan pushes UN for urgent climate finance boost
Prime Minister Shehbaz Sharif met UN Secretary-General António Guterres on the sidelines of the UN General Assembly on Saturday. During the meeting, he urged the global body to increase climate finance for vulnerable countries, especially those like Pakistan. He highlighted the urgent need for international support to help nations facing the harshest effects of climate […]