The third Pakistan Climate Conference, organized by the Overseas Investors Chamber of Commerce and Industry , kicked off at a local hotel in Karachi. This two-day event brings together key stakeholders, including policymakers, business leaders, environmental experts, and thought leaders, to address the escalating climate crisis in Pakistan and propose viable solutions for mitigation and adaptation. Federal Minister Aurangzeb, addressed the conference virtually, stressing the critical need for climate finance in Pakistan.
He highlighted Pakistan’s vulnerability, ranking among the top 10 most climate-vulnerable nations globally, and the devastating economic impacts of the 2022 floods, which caused over $30 billion in damages. “Pakistan requires an estimated $348 billion by 2030 to meet its climate adaptation and mitigation goals,” the Minister noted. Aurangzeb underscored the importance of innovative financing mechanisms, such as the Green Climate Fund and the Adaptation Fund, to mobilize climate finance also referenced the success of Pakistan’s green Eurobond issued in 2021, which raised $500 million, illustrating the country’s potential to attract sustainable investments. He called for the expansion of green bonds, sustainability-linked loans, and carbon credits to empower the private sector in driving climate action. Dr. Shamshad Akhtar, Chairperson of the Pakistan Stock Exchange and former Finance Minister, delivered the keynote address, emphasizing the economic risks posed by climate change.
She called for integrating climate resilience into national economic strategies, highlighting the urgency of nurturing green finance markets for sustainable development. Yousaf Hussain, President of OICCI, reiterated the chamber’s commitment to sustainability, emphasizing the importance of public-private partnerships in achieving Pakistan’s climate objectives.
“This conference is a platform to drive transformative change and help Pakistan address sustainability challenges,” Hussain stated. The conference agenda includes panel discussions and presentations on climate finance, the economic impacts of climate change, advancing circularity, decarbonization, and fostering public-private partnerships for climate resilience. On Day 2, the focus will shift to actionable strategies, including policy recommendations and business innovations, to ensure sustainable development in Pakistan.
