New York, Sept 25 – Prime Minister Shehbaz Sharif on Thursday urged the international community to meet its climate finance commitments, warning that debt-driven solutions would not help vulnerable nations like Pakistan tackle climate disasters.
Speaking at the Special Climate Event convened by UN Secretary-General Antonio Guterres alongside Brazil’s president, host of COP30, Sharif said:
“Loans over loans, adding to loans, is not a solution. Developed countries must honour their pledges for the sake of future generations.”
According to Dawn, the prime minister reminded delegates that Pakistan is still reeling from the devastation caused by the 2022 floods, which inflicted over $30 billion in losses, displaced millions, and left lasting damage. He noted that this year’s monsoon season had already affected five million people, destroyed 4,100 villages, and claimed more than 1,000 lives.
Despite contributing little to global greenhouse gas emissions, Pakistan bears the brunt of climate change, Sharif said, reaffirming Islamabad’s “steadfast and unwavering” commitment to its Nationally Determined Contributions (NDCs).
He highlighted progress, including:
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Renewables supplying 32% of the power mix
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Solar energy growing sevenfold since 2021
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Restoration of 23,000 hectares of mangrove forests
Sharif announced targets to:
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Raise renewables and hydropower share to 62% by 2035
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Add 1,200 MW of nuclear capacity by 2030
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Transition 30% of transport to clean mobility
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Set up 3,000 EV charging stations nationwide
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Expand climate-smart agriculture, water security measures, and plant one billion trees
But he regretted that Pakistan’s adaptation plans remain severely hampered by lack of climate finance.
UN chief Guterres said keeping global temperature rise below 1.5°C is still possible but requires mobilising $1.3 trillion annually in climate finance by 2035 and debt relief measures for developing countries that “did least to cause the crisis but suffer the most.”