March 24, 2023
Finance International

Environment Financing Crucial For Formulating Countries

Mujtaba Hussain, Additional Secretary, Ministry of Climate Change has said that while there lately had been several debates about the significance of climate financing in tackling the unavoidable impacts of climate change, there was an inherent ambiguity in what finance entailed for various developing countries.

Mr Hussain was addressing a Roundtable on ‘International climatic negotiations: key challenges and pathways to a safe future’ co-hosted here by Institute of Regional Studies (IRS), Civil Society Coalition for Climate Change (CSCCC) and the Embassy of France. Hussain said that while Pakistan played a vital role in bringing together the most climate stressed countries, at home, there was a serious need to strengthen our capacity in order to formulate workable project-oriented solutions to deal with the impacts of climate change. For this, he added, his Ministry was adamant in strengthening the climate finance unit as a major functional outlet to carry forward the planned tasks.

A major challenge in the development of a longer lasting transformative roadmap was the full access to available financial opportunities and capacity issues, he concluded. Jourdian Valliant from Ministry of Europe and Foreign Affairs, France, said that the window of opportunity was shrinking on a daily basis. He said that while the Paris Agreement was a wholesome framework to deal with the challenge of climate change, international provisions and initiatives could not be coupled with or viewed as domestic or national implementation plans.

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