ISLAMABAD: A delegation from the Climate Vulnerable Forum (CVF) – V20, representing a coalition of finance ministers from countries most affected by climate change, met with Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on February 3 in Islamabad.
Led by Ms. Sara Jane Ahmed, Managing Director of CVF-V20, the delegation held detailed discussions on key issues such as climate risk mitigation, securing finance for adaptation and mitigation strategies, agricultural insurance, and improving urban flood resilience.
During the meeting, the delegation highlighted several initiatives already underway in Pakistan, including the launch of the country’s Carbon Market Policy and the establishment of the Panel on Coordinated Access to Net Zero at COP29. They also discussed potential development financing opportunities through Paris-Aligned Carbon Markets, which aim to advance Pakistan’s climate goals.
Minister Aurangzeb stressed the significant environmental and climate risks facing Pakistan and underscored the need for building resilience through effective adaptation and disaster preparedness strategies. He pointed out that the government had actively explored various funding avenues in collaboration with international organizations such as the United Nations Development Programme (UNDP) and the World Bank (WB) to address the impacts of climate change.
The minister further emphasized the importance of global cooperation in tackling climate challenges. He noted that support from the V20, the Group of Seven (G7), and other countries under the ‘Global Shield’ initiative was critical in strengthening pre-arranged protection for vulnerable populations against climate and disaster-related risks.
Aurangzeb also reiterated Prime Minister Shehbaz Sharif’s unwavering commitment to bolstering Pakistan’s resilience across key socio-economic sectors, including agriculture, water, energy, health, and education. The Prime Minister aims to ensure that Pakistan is prepared to withstand the impacts of climate change.
The CVF-V20 delegation, which included Hamza Haroon, Regional Director-South Asia; Ms. Abena Takyiwaa Asamoah-Okyere, Director of Country Platforms; Marzio Colantuoni, Research Analyst; and Ms. Ameera Adil, Special Initiatives Lead for Pakistan, engaged in productive talks with senior officials from both the Ministry of Finance and the Ministry of Climate Change. Their discussions reinforced Pakistan’s commitment to the global fight against climate change.
The meeting concluded with a shared understanding of the urgent need for coordinated, multi-stakeholder efforts to address the escalating climate challenges and protect vulnerable communities from the adverse effects of climate change.
