Pakistan is set to push for the operationalization of a $100 billion loss and damage fund at the upcoming COP28 summit in Dubai. As the country most severely affected by climate change, Pakistan requires approximately $348 billion by 2030 to address climate action, including both mitigation and adaptation measures. To achieve this, Pakistan aims to secure equal funding for climate change mitigation and adaptation initiatives.
Syed Asif Hyder Shah, the secretary of the Ministry of Climate Change, highlighted the need for $120 billion to be allocated specifically for adaptation initiatives within the next seven years. Shah emphasized that funding for both mitigation and adaptation cannot be met solely through the COP summit and called for negotiations to secure equitable funding for climate change-related projects.
Led by Caretaker Minister for Climate Change and Environment Coordination Ahmed Irfan Aslam, the Pakistani delegation will raise awareness about the importance of climate adaptation and showcase projects promoting climate resilience. Pakistan played a vital role in the establishment of a global agreement on the loss and damage fund during the COP-27 meeting in Egypt, given its own experiences with devastating floods in 2022.
Key areas of focus at the COP-28 conference include the operationalization of the loss and damage fund, the first Global Stock Take (GST) report, the mitigation work program, the global goal on adaptation, and climate finance, specifically a new collective quantified goal. Pakistan argues for the inclusion of developing countries within the fund, as the initial phase involves creating an interim measure before transitioning into a standalone fund after three years.
Pakistan aims to highlight the equal importance of adaptation alongside mitigation at COP28, advocating for a higher target than the agreed-upon $1 billion for global climate finance. To ensure effective engagement in the global climate conference, the Ministry of Climate Change is establishing a dedicated COP cell and a communication cell for timely and accurate information sharing.
Notably, $34 billion of the pledged climate fund of $100 billion has been directed towards adaptation finance. The COP forum primarily focuses on broader rules and frameworks rather than deliberating on individual countries, and the COP pavilion is supported by donors and other sources, eliminating the need for government funding from Pakistan.
Pakistan’s efforts at COP28 demonstrate its commitment to addressing climate change and seeking equitable funding for climate action initiatives. As the country most affected by climate change, Pakistan aims to secure the necessary resources to implement crucial adaptation strategies and mitigate the risks posed by global warming.