In a recent report by Transparency International Pakistan (TIP), the alarming financial strain caused by climate change on the country has been highlighted. The report has estimated that Pakistan faces a loss of nearly 4 billion dollars every year due to climate change. It delves into Pakistan’s vulnerability to climate change and stresses the crucial need for adequate financing to fulfill commitments outlined in nationally determined contributions (NDC).
Despite being among the top ten countries most affected by climate change, Pakistan surprisingly doesn’t rank among the top recipients of climate finance, as per the findings of the report.
Transparency International Pakistan has put forward several key recommendations to address this issue. They emphasize the importance of activating and empowering climate change institutions established under the Climate Change Act 2017. This involves engaging both the public and experts, integrating transparency and climate perspectives into project designs, and enhancing the capacity for auditing and reporting institutions, ensuring compliance with transparency laws.
The report also stresses the necessity to bridge the policy gap between national and provincial climate policies, increase budget allocations for climate-related initiatives, establish an open database on climate finance, and enhance climate governance integrity by adopting global best practices.
TIP has highlighted the urgency for stronger climate governance in Pakistan to effectively tackle the challenges posed by climate change and minimize its adverse impacts on the country’s economy and environment.
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