A pivotal panel session, titled “Climate Finance Landscape in Punjab to Scale Up Climate Action,” took center stage at the Pakistan Pavilion at COP28, delving into strategies for enhancing climate resilience in the region. The panel, featuring key governmental and international figures, spotlighted Punjab’s ongoing initiatives and the potential for expanding debt-free climate finance.
Chief Minister Syed Mohsin Raza Naqvi, in his keynote address, emphasized the integral role of climate finance in propelling sustainable projects forward. Punjab has committed a substantial $1.4 billion for climate-resilient projects, underscoring its dedication to addressing climate challenges. The Chief Minister stressed the importance of collaborative efforts to maximize the impact of these initiatives.
The panelists, including Zahid Zaman Akhtar (Chief Secretary of Punjab), Dr. Abrar Chaudhry (Professor at Oxford University), Iftikhar Ali Sahoo (Chairman of the Planning and Development Board), Ali Tauqeer Sheikh (Climate Change Specialist), Dina Umali (South Asia Regional Director for Sustainable Development, World Bank), and Mr. Nadir Chattha (Secretary of Agriculture), delved into various aspects of climate finance, exploring Punjab’s current landscape and global best practices.
While acknowledging the substantial financial commitment, the panelists recognized the potential for additional debt-free climate finance to further strengthen the region’s capacity to mitigate and adapt to climate change. Insights shared during the panel underscored the necessity of innovative financing mechanisms and collaborative partnerships to ensure the effective utilization of the allocated funds. As Punjab continues its proactive stance in addressing climate change challenges, the COP28 panel provided a crucial platform for exploring avenues to scale up climate action and secure sustainable, debt-free financial resources for the region’s ambitious climate-resilient projects.
Leave a Reply