Former finance minister Dr. Shamshad Akhtar stated that Pakistan requires $50 billion to combat the effects of climate change.
Speaking at the third Pakistan Climate Conference, she highlighted that Pakistan is the fifth most vulnerable country to climate change impacts and has only received 1.8% of the needed funding to address these challenges.
Dr. Akhtar urged the government to seek financial support from international organizations to tackle climate issues, noting that climate change has already reduced Pakistan’s GDP by 3%.
She also mentioned the launch of green sukuk bonds to boost climate financing and suggested the introduction of banking products focused on green financing as a viable solution.
Additionally, Dr. Akhtar emphasized the importance of developing a green energy policy to ensure the success of the China-Pakistan Economic Corridor (CPEC).
