Prime Minister Shehbaz Sharif on Tuesday called the climate financing an “urgent need of the hour”, saying that developing countries need an estimated $6.8 trillion by 2030 to implement less than half of their current Nationally Determined Contributions (NDCs).
The premier made these remarks during a Climate Finance Round Table Conference hosted by Pakistan on the sidelines of the two-day World Leaders Climate Action Summit, also known as COP29, being held in Baku, Azerbaijan.
He pointed out that the world stands at a crucial threshold, where global climate finance framework must be redefined to effectively meet the needs of vulnerable nations.
“Despite years of promises and repeated commitments, the gaps are growing in quantum leaps leading to egregious barriers in achieving the objectives of United Nations (UN) framework on climate change,” he said.
He said the donor countries should fulfill their commitment to mitigate the adverse impact of climate change.
He also stressed the need to resume focus on non-debt financing solutions, enabling countries to fund climate initiatives without additional burden.
On arrival at the summit venue, UN Secretary-General Antonio Guterres and President of Azerbaijan Ilham Aliyev welcomed the prime minister.
Later, he also posed for a family photo along with the participating leaders at the venue which followed the opening of the World Leaders Climate Action Summit.
Premier meets world leaders
As the participating leaders gathered for a group photo, PM Shehbaz held an informal interaction with them and exchanged pleasantries besides discussing matters of mutual interest.
PM Shehbaz interacted with United Arab Emirates (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 leaders discussed ways to cooperate in highlighting the issues of climate change and environmental pollution at the international level.
The premier also met with UK Prime Minister Sir Keir Starmer, where the two discussed enhancing Pakistan-UK cooperation.
In his interaction with Uzbek President Shavkat Mirziyoyev and Tajikistan President Emomali Rahmon, the leaders discussed protection of glaciers and water resources in Pakistan and Central Asia as well as the strengthening connectivity with both the countries.
In his meetings with Nepal’s President Ramchandra Paudel and Bangladesh’s Dr Muhammad Yunus, PM Shehbaz discussed growing temperatures, the threat of rising sea levels, and forest conservation in South Asia.
Meanwhile, he also interacted with Kazakhstan President Kassym-Jomart Tokayev and discussed strengthening bilateral relations and expanding regional connectivity.
Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Coordinator to Prime Minister on Climate Change Romina Khurshid Alam accompanied the prime
