Theme: Finance Trade Gender Equality Accountability
Ministry of Planning, Development & Special Initiatives:
The COP 28 panel discussion, titled “Enhancing Cross-Agency Coordination for the Expansion of Climate Finance,” was arranged by the Planning Commission of Pakistan. The event showcased an extensive exchange of ideas among influential policymakers and subject matter experts. Moderated by Ms. Nadia Rehman, Member (Food Security & Climate Change) at the Planning Commission, Government of Pakistan, the panel featured notable participants: Mr. Awais Manzur Sumra, Secretary at the Ministry of Planning, Development, and Special Initiatives, Government of Pakistan; Mr. Abhas Jha, Practice Manager for Climate Change and Disaster Risk Management for South Asia at the World Bank; Mr. Robin George, Partner and Associate Director at the Boston Consulting Group; and Mr. Søren Lütken, Senior Economist at the UNEP Copenhagen Climate Centre.
Panelists delved into diverse strategies to boost private investment and international support in addressing Pakistan’s pressing climate finance needs. They underscored the significance of global cooperation and inventive financing solutions. Key themes included the imperative of incorporating climate considerations into public investment decisions, the potential of blended finance to unlock development gains, and the pivotal role of cross-agency coordination in achieving effective climate finance outcomes. The discussion highlighted Pakistan’s substantial requirement for climate finance, accentuated by recent climate challenges and macro-fiscal constraints. The panel’s contributions stressed a comprehensive government approach, concentrating on policy, investment, and capacity-building measures to promote a green transition in alignment with national and global goals.
Mr. Awais Manzur Sumra, Secretary of the Ministry of Planning, Development, and Special Initiatives, discussed the role of the Sustainable Finance Bureau as a facility for preparing projects across agencies for climate finance and carbon finance. This bureau, guided by the Economic Affairs Division (EAD), the Ministry of Finance (MoF), the Ministry of Climate Change and Environmental Coordination (MoCC&EC), and the Ministry of Planning, Development, and Special Initiatives (MoPDSI), aims to facilitate and streamline the process of securing and managing climate finance and carbon finance. It underscores the importance of inter-agency collaboration for efficient and impactful climate finance initiatives.
Sindh People’s Housing Foundation:
The December 4th session, arranged by Sindh People’s Housing for Flood Affectees (SPHF), carries utmost importance in the realm of advancing climate action and building resilience. Set against the backdrop of the 2022 floods in Pakistan, the session seeks to highlight the cooperative efforts between the Government of Sindh’s flagship initiative SPHF and International Financial Institutions (IFIs) such as the World Bank, Islamic Development Bank, and Asian Development Bank.
At the core of this occasion is the dedication to underscore the crucial role IFIs play in backing climate resilience endeavors, with a particular focus on the ambitious objective of building 2 million resilient houses in Sindh. This massive housing initiative is presented as the world’s largest of its kind, signifying a noteworthy achievement in addressing the repercussions of the catastrophic floods.
A notable feature of the session will be the Caretaker Chief Minister of Sindh officially introducing the Donor Platform. This platform is conceptualized as a catalyst for cooperation, signifying a collective endeavor to unite various stakeholders and resources to guarantee the prosperous realization of the housing initiative.
The international community is cordially encouraged to engage actively in this transformative initiative. Gratitude is expressed to the World Bank for its significant donation of $500 million, establishing the groundwork for the continuous development of resilient houses. Moreover, favorable discussions with the Islamic Development Bank, projecting $200 million by June 2024, and the accomplished mission of the Asian Development Bank, along with hopeful prospects of obtaining $300-350 million, demonstrate a sturdy and diverse financial support framework.
The worldwide invitation emphasizes the need for joint efforts in confronting climate challenges and realizing the ambitious objective of building resilient homes for flood-affected communities in Sindh. The session expects not only productive discussions but also a united dedication to constructing a more resilient future.
UN WOMEN
Summary of UN Women Activities at Pakistan Pavilion during COP28
Gender Day at COP28 occurred on December 4th, emphasizing the importance of inclusive policies for a fair transition that acknowledges women’s pivotal role in building resilient communities and promoting effective climate action. The event highlighted the necessity to enhance the gender responsiveness of climate resources and finance.
On this day, two side events at COP28 took place at the Pakistan Pavilion, co-hosted by Pakistan’s Ministry of Climate Change and Environmental Coordination and UN Women Pakistan. The first event highlighted the interconnectedness of gender, climate, and security observed in Pakistan and globally. The second event centered on young climate activists who are supporting the endeavors of governments, the UN, and other entities to construct resilient communities and address climate change. Panelists for both events included representatives from national and international institutions, climate activists, youth, the private sector, and financial institutions.
SEED
The Pakistan pavilion, in collaboration with the Sustainable Energy & Economic Development Program (UKAID), organized an occasion to deliberate and outline the prospects of climate investments in Khyber Pakhtunkhwa and Pakistan.
The occasion featured an elaborate exposition on investment prospects in Khyber Pakhtunkhwa, focusing on climate, succeeded by a panel conversation involving experts from Gold Standard, Climate Partner, Adam Smith International, Open Forest Protocol, Ernst & Young, Macquarie Bank, and the Government of Khyber Pakhtunkhwa.
The panelists provided perspectives on navigating the carbon market arena, considering standards, investor viewpoints, and the stance of project developers. The conversation encompassed green standards, nature-based solutions, investment prospects, and choices accessible to Pakistan at large, with a specific focus on KP.
In conclusion, the Secretary of the Ministry of Climate Change expressed gratitude to the panelists for their insightful discussion on carbon markets in Pakistan. He reassured full support to the provinces for their future initiatives in the domain of climate finance and carbon markets SEED.
The event, organized by the Pakistan pavilion in partnership with the Sustainable Energy & Economic Development Program (UKAID), aimed to explore and outline the climate investment potential in Khyber Pakhtunkhwa and Pakistan.
The event featured panel discussions with participation from Gold Standard, Climate Partner, Adam Smith International, Open Forest Protocol, Ernst & Young, Macquarie Bank, and the Government of Khyber Pakhtunkhwa.
The panelists provided perspectives on navigating the carbon market arena, considering standards, investor viewpoints, and project developer standpoints. Discussion topics encompassed green standards, nature-based solutions, as well as investment opportunities and choices pertinent to both Pakistan overall and specifically to KP.
At the conclusion, the Secretary of the Ministry of Climate Change expressed gratitude to the panelists for their enlightening discussion on carbon markets in Pakistan and assured complete support to the provinces for future initiatives in the field of climate finance and carbon markets.
