ACCORDING to estimates shared at a recent session on Pakistan Green Taxonomy (PGT) and ESG Disclosure Guidelines hosted by Overseas Investors Chamber of Commerce and Industry (OICCI), the country will require an extraordinary $565.7b by 2035 to meet its Nationally Determined Contributions (NDC) 3.0 commitments.
These include a 17% unconditional and 33% conditional reduction in greenhouse gas emissions, a 30% increase in electric vehicle adoption, and a transition to 60% renewable energy.
For a developing country already grappling with fiscal stress, debt burdens and recurring climate disasters, this figure is not just daunting, it is virtually unachievable without substantial international support. Expecting the country to mobilise such vast resources largely on its own is unrealistic and unfair. Yet, despite these constraints, Pakistan is not standing still. The government is taking steps to demonstrate climate responsibility. Forest cover is being enhanced through large-scale afforestation initiatives, recognising the critical role of nature-based solutions in carbon sequestration and climate resilience. More recently, the Punjab government announced a complete ban on purchase of petrol and diesel vehicles across its departments, allowing only electric or hybrid vehicles. This is a significant policy signal aimed at cutting emissions, reducing fuel imports, and accelerating the shift to cleaner transport. Frameworks such as Pakistan Green Taxonomy and improved ESG disclosure guidelines are also important milestones. They provide a structured way to channel capital toward sustainable projects and align financial flows with climate objectives. These efforts underscore that Pakistan is willing to do its part, within its limited means, to address climate change.
However, good intentions and policy reforms cannot substitute for capital. Climate action on the scale envisioned under NDC 3.0 requires financing that far exceeds Pakistan’s domestic capacity. Pakistan contributes less than one per cent to global greenhouse gas emissions, yet it remains among countries most vulnerable to climate impacts. Climate justice demands that those who caused the problem shoulder a greater share of the solution. This means moving beyond rhetoric and pledges to deliver predictable, accessible, and adequate climate finance, including grants, technology transfer and capacity-building support. If the world is serious about collective climate action, it must ensure that countries like Pakistan are not left to face an existential challenge alone.
