At the 4th Pakistan Climate Conference, speakers revealed that Pakistan is losing nearly one percent of its GDP annually to climate-related damages. The event, organised by the Overseas Investors Chamber of Commerce & Industry (OICCI), highlighted the urgent need for actionable climate initiatives and financial investment.
Federal Minister for Climate Change Dr Musadik Masood Malik emphasised the existential threat posed by climate change, noting record heatwaves and floods that have displaced millions. He stated that achieving the country’s climate targets would require $565.7 billion in investment, underscoring the need for sustainable climate finance.
Finance Minister Senator Muhammad Aurangzeb and UNDP’s Chongguang Yu discussed the importance of mobilising private sector funding and innovative financial strategies to tackle climate challenges.
OICCI President Yousaf Hussain noted significant progress, such as the Country Partnership Framework with the World Bank and plans for Pakistan’s first Green Panda Bond.
The Conference concluded with the 2nd OICCI Climate Excellence Awards, recognising organisations for their contributions to renewable energy and sustainability, with Nestlé Pakistan receiving the main award for Climate Excellence.
