ISLAMABAD: Finance Minister Muhammad Aurangzeb has said Pakistan faces serious risks from climate change and stressed the need for stronger measures to deal with climate-related disasters.
Aurangzeb said floods had caused significant damage to infrastructure and communities, adding that efforts were underway to make the disaster management system more effective.
He said improving early warning systems was among the government’s priorities and stressed the need to make climate investment projects more effective.
The finance minister said mobilising domestic resources alongside external financial assistance was essential, while maintaining fiscal capacity was necessary to address climate challenges.
He said efforts were underway to secure financial resources through the World Bank and Asian Development Bank, while work was also continuing to access international capital markets.
Aurangzeb called for easier access to global climate funds, saying the procedures of the Green Climate Fund and Loss and Damage Fund should be simplified.
He stressed the need to accelerate access to climate financing, saying adequate resources were essential for disaster response, climate adaptation, recovery and reconstruction.
