Country faces USD348bn climate finance gap: Rana Ihsaan

Business Recorder reported that Pakistan’s climate-related funding requirement could exceed available resources by USD348 billion through 2030. At a Sustainable Development Policy Institute conference, Commerce and Industries Coordinator Rana Ihsaan Afzal Khan called for concessional funding, private capital and carbon-market participation to help meet the shortfall.

He said the government wanted to put its Climate Prosperity Plan and Green Taxonomy into practice, while a proposed national platform would coordinate projects and overseas financing. The plan now covers 100 projects valued at USD8.5 billion, up from 69 projects worth USD4.5 billion, and has gone to the Finance Ministry. Officials also cited solar growth, roughly 4.5 gigawatts of battery equipment imports in six months, and a target for electric vehicles to reach 30 percent of the market by 2030. A Green Climate Fund decision on the platform proposal was expected the following week.