PM Shehbaz urges stronger climate finance mechanism

BAKU: Prime Minister (PM) Shehbaz Sharif said that global climate finance must be redefined to adequately address the requirements of vulnerable countries.

In his opening remarks at the Climate Finance Roundtable Conference hosted by Pakistan in Baku, the prime minister called for stronger and more actable climate finance mechanisms under the UN Framework Convention on Climate Change.

PM Shehbaz said that despite repeated commitments, the gaps are growing in quantum leaps, leading to egregious barriers in achieving the objective of UN framework on Climate Change.

He said developing countries will need an estimated 6.8 trillion dollars by 2030 to implement less than half their current Nationally Determined Contributions (NDCs). He said the donor countries should fulfill their commitment to mitigate the adverse impact of climate change.

He stressed the need to resume focus on non-debt financing solutions, enabling countries to fund climate initiatives without additional burden.

The Climate Finance Roundtable Conference was also attended by representatives of other countries.

PM Shehbaz interacts with world leaders

Meanwhile, PM Shehbaz Sharif interacted with the global leaders as they gathered here to participate in the World Leaders’ Climate Action Summit” of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) opening plenary.

President of Azerbaijan Ilham Aliyev and United Nations Secretary-General Antonio Guterres warmly received the prime minister as he arrived at the summit venue, according to a PM Office press release.

As the participating leaders gathered for a group photo, the prime minister held an informal interaction with them and exchanged pleasantries besides discussing matters of mutual interest.

He interacted with UAE President Sheikh Mohamed bin Zayed Al Nahyan and discussed matters of mutual interest including bilateral cooperation in the climate change field.

During interaction with Turkish President Recep Tayyip Erdogan and Turkish First Lady Emine Erdogan, the two sides discussed ways to cooperate in highlighting the issues of climate change and environmental pollution at the international level.

In their informal interaction, PM Shehbaz and UK Prime Minister Sir Keir Starmer exchanged views on the promotion of Pak-UK relationship.

He also met Uzbek President Shavkat Mirziyoyev and Tajikistan President Emomali Rahmon and discussed protection of glaciers and water resources in Pakistan and Central Asia as well as the strengthening connectivity with both the countries.

Meanwhile, the prime minister also interacted with leaders of different countries including Nepal President Ram Chandra Poudel and Chief Advisor of Bangladesh Dr. Muhammad Yunus discussed the issue of increasing temperature in South Asia, risks posed by rising sea level, and the conservation of forests, besides the bilateral ties.

Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Coordinator to Prime Minister on Climate Change Romina Khurshid Alam accompanied the prime minister.