March 29, 2023
Finance Pakistan

Climate change to slash growth significantly

LAHORE: Pakistan is sitting on a ticking time bomb of environment and climate transition. If the activity strategy in place is not implemented as per the timeline, it holds up the possibility to deteriorate 18-20% of financial development by 2050 and jeopardize the socio-economic safety of millions of people.

“Food insecurity remains the largest threat emanating from climate change in the country,” a constituent of the civil community said while talking at a roundtable session on the blastoff a white document on atmosphere transition titled “Synergizing the Climate Ambition. A Blueprint for attaining NDCs through

Private Sector Engagement in Pakistan”.

“The private sector has tasked itself to drive the nation out of the danger of climate change through implementing its international commitments made at COP26,” declared the document undertaken by the Overseas Investors Chamber of Commerce and Industry (OICCI), which is an exchange body of over 200 big global corporations (MNCs) in Pakistan. While furnishing the aggregate effect of environment and atmospheric hazards, direct writer of the statement, Dr Hina Aslam (SDPI) declared “damage from air pollution is estimated to impose an additional loss of 6.5% of GDP per year, in addition to 18-20% (cut in GDP) by 2050”.

Farming and power resume to be Pakistan’s biggest emissions bases, with industrial procedures, land-use difference and garbage pursuing near behind.

“The private sector cannot do it all alone and requires support from government, civil society and consumer bodies. Coordinated actions, behavioral change, financial commitments and compliance with regulatory frameworks will be needed,” told the white document.

An educationalist indicated at the roundtable that environmental differences should be made part of the curriculum in academies and colleges. “There is too much focus on professional degrees like MBA.”

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