$40bn needed to reduce green house gas emissions

ISLAMABAD: Federal Minister for Climate Change Zahid Hamid has said Pakistan needs $40 billion by 2030 to meet its voluntary international commitment to reducing green house gas emissions by 20pc.

Addressing at a national workshop on ‘Forging Partnership for Climate Compatible Development’ organized by LEAD Pakistan, he said $14 billion annually was also required to adapt to climate change impacts.

He said that Pakistan had developed comprehensive policies and plans that include both adaptation and mitigation measures, however, availability of adequate finance had been a major issue to implement them.

“Securing such levels of investment is a major challenge. We hope that the financial commitments in the Paris Agreement regarding the availability of at least $100 billion per year by 2020 will be released,” he added.

Zahid Hamid told the audience that Pakistan climate change bill had just been passed by the Senate and would become law after receiving assent from the President

According to the minister, Pakistan is among the few countries in the world with a law specifically dedicated to climate change. He called the approval of Pakistan Climate Change bill a historic and red-letter day for the climate movement of Pakistan.

He said the new law established three important institutions, the Pakistan Climate Change Council, Pakistan Climate Change Authority and Pakistan Climate Change Fund.

Explaining the new institutions, Hamid said the Pakistan Climate Change Council would be chaired by the prime minister and will include chief ministers, provincial environment ministers, Chief Secretaries of AJK and Gilgit Baltistan and representatives of non-governmental organizations, scientists and researchers.

He said the council would approve and monitor implementation of a comprehensive adaptation and mitigation policies and may direct any government agency to prepare and implement climate change projects.

He explained that Pakistan Climate Change authority shall comprise the chairperson, member adaptation, member mitigation and member climate finance.

“The authority will formulate comprehensive adaptation and mitigation policies, plans and projects designed to meet Pakistan’s obligations under international and advise the government regarding appropriate legislative, policy and implementation measure and actions related to disaster preparedness and raising awareness in relevant sectors affected by climate change.

Speaking about the Climate Change Fund, the climate change minister said that the fund would be utilised for expenditures incurred by the authority, for financial assistance to suitable adaptation and mitigation projects and for sustainable development of resources and research.

Speaking to the participants, CEO LEAD Pakistan Ali Tauqeer Sheikh said that Pakistan Climate Change Act can serve as a framework for this transition and is expected that the proposed institutional changes will strengthen climate action governance and ownership in the country.

Source: Dawn