UNITED NATIONS: Prime Minister Shehbaz Sharif on Thursday urged the international community to fulfil its commitments on climate finance, warning that debt-driven solutions are not viable for vulnerable nations like Pakistan facing the escalating climate crisis.
“Loans over loans, adding to loans is not a solution,” the prime minister said while speaking at the Special Climate Event convened by UN Secretary-General António Guterres along with the President of Brazil (COP-30 Host). The event called on member states to present new Nationally Determined Contributions (NDCs) with 2035 targets.
Reaffirming Pakistan’s determination to be part of the global climate solution, PM Shehbaz expressed hope that the world would honour its pledges for the sake of future generations.
He reminded global delegates that Pakistan was still reeling from the devastating 2022 floods, which caused over $30 billion in losses and displaced millions. “This year alone, intense monsoon rains, cloudbursts, flash floods, and urban inundation have affected over five million people, destroyed 4,100 villages, and claimed more than 1,000 lives,” he said.
Despite contributing minimally to global greenhouse gas emissions, the prime minister said, Pakistan bears the brunt of climate impacts. “We face consequences far beyond our share,” he stressed.
However, he pointed out that our commitment to delivering on our climate agenda, remained steadfast and unwavering. “In our 2021 nationally determined contribution, Pakistan committed to an unconditional 15% reduction in projected greenhouse gas emissions by 2030.”
As part of the overall target of cutting emissions by 50%, he shared that Pakistan had already delivered on its unconditional pledge of a 15% reduction. “Renewables are presently providing over 32% of Pakistan’s power mix. Solar energy has grown seven fold since 2021,” the prime minister added.
He also highlighted Pakistan’s nature-based restoration efforts, including the rehabilitation of 23,000 hectares of mangroves. However, the implementation of Pakistan’s national adaptation plan is hampered and hampered severely due to inadequate international climate finance,” he regretted.
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PM Shehbaz Sharif announced to increase the share of renewables and hydropower to 62% of the country’s energy mix by 2035, expanding nuclear energy capacity by 1,200 megawatt by 2030, shifting 30% of transport to cleaner mobility by 2030, and establishing 3,000 charging stations nationwide, scaling up climate’s smart agriculture, safeguarding water security, and advancing the implantation of 1 billion trees.