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IMF technical team in Pakistan

A four-member International Monetary Fund (IMF) technical delegation reached here on Monday for talks on climate financing. According to sources, negotiations are scheduled between the IMF delegation and federal and provincial officials from today till February 28 “on green budgeting, climate spending tagging, tracking, and reporting.” Sources stated that a proposal to impose a carbon levy in the budget for the fiscal year 2025-26 is under consideration. A preliminary draft will be discussed during negotiations and the IMF will give suggestions on the levy, they added. There will also be discussion on electric vehicles and subsidies, the sources said and

PM Shehbaz vows to combat climate change in collaboration with int’l community

Prime Minister Muhammad Shehbaz Sharif has reaffirmed Pakistan’s strong commitment to advancing the objective of combating climate change in close collaboration with international community and the United Nations. He was talking to the UN Resident Coordinator in Pakistan Mohamed Yahya, who paid a courtesy call on him in Islamabad. During the meeting, the Prime Minister appreciated the important work being carried out by the UN Country Team in Pakistan, emphasizing the need to further strengthen the collaboration in the areas of sustainable development and climate change. He said climate financing remained a crucial component of addressing the impacts of climate

PM Shehbaz invites investors to invest in Pakistan’s clean energy & infrastructure opportunities

Prime Minister Shehbaz Sharif has called upon governments to strengthen climate financing and technology sharing. Addressing the World Governments Summit in Dubai, he urged private investors to explore Pakistan’s clean energy and infrastructure opportunities. He said multilateral institutions should support emerging economies like Pakistan in achieving sustainable growth. The Prime Minister said Pakistan is fully committed to mobilizing domestic resources and policy reforms. However, international partnerships and financial support remain critical to achieving this goal as global shift to a green economy requires a shared responsibility. He said Pakistan’s energy transition alone demands hundred billion dollars in investment. Shehbaz Sharif

Major threats to marine life in Pakistan calls for immediate action

Threats to marine life is one of the most pressing issues of this time, and surprisingly one of the most neglected one as well. In the past years, Pakistan tried to combat major challenges from plastic pollution, IUU fishing to habitat destruction, overfishing and more. However, climate change had further exacerbates these risks, impacting ecosystems and biodiversity. Current challenges to marine conservation: In simple terms marine conservation, which is also known as ocean conservation, means the protection of marine ecosystems and life. There are plenty of threats to marine conservation, however, we’ll take a brief look at the major ones.

Sustainable wood glass bottles

Introducing transparent wood glass bottles in Pakistan can serve as a revolutionary step toward sustainable waste management and climate action. These eco-friendly bottles, made from renewable and biodegradable materials, offer a greener alternative to plastic. To encourage their use and proper recycling, a smart exchange machine can be introduced in major cities across Pakistan. This machine would allow consumers to deposit used transparent wood glass bottles and receive monetary rewards in return, promoting a circular economy. By combining innovative materials with an incentivized recycling system, Pakistan can significantly reduce plastic pollution, create economic opportunities, and contribute to global efforts in

Karot Hydropower Project pushes economic growth for Pakistan, CSAIL

Islamabad: The Karot Hydropower Project (HPP) stands as a model for Pakistan’s renewable energy future, balancing clean energy production, environmental stewardship, and economic development. While briefing the media and parliamentary delegation organized by “Understanding China Forum” at Karot HPP on Monday, Senior Advisor at China Three Gorges South Asia Investment Ltd (CSAIL) has said that the generation of reliable and affordable electricity will also help improve industrial productivity and support the growth of other sectors such as agriculture, manufacturing, and services, which depend heavily on consistent energy supply. Furthermore, the project’s long-term operation will reduce Pakistan’s energy import dependency, contributing

COP29 UN Climate Conference Agrees to Triple Public Finance to Developing Countries, Protecting Lives and Livelihoods

The UN Climate Change Conference (COP29) closed today with a new finance goal to help countries to protect their people and economies against climate disasters, and share in the vast benefits of the clean energy boom. With a central focus on climate finance, COP29 brought together nearly 200 countries in Baku, Azerbaijan, and reached a breakthrough agreement that will: Triple public finance to developing countries, from the previous goal of USD 100 billion annually, to USD 300 billion annually by 2035.Secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources,

Breakthrough in Baku delivers $1.3tn “Baku Finance Goal”

November: The COP29 Presidency of Azerbaijan today announced the agreement of the Baku Finance Goal (BFG), a new commitment to channel $1.3tn of climate finance to the developing world each year. Success on the COP29 Presidency’s top priority for the UN Climate Summit represents a significant uplift from the previous climate finance goal of $100 billion and will unlock a new wave of global investment. The Baku Finance Goal contains a core target for developed countries to take the lead on mobilizing at least $300 billion per year for developing countries by 2035. This represents a $50bn increase on the

COP29 achieves full operationalisation of Article 6 of Paris Agreement – Unlocks International Carbon Markets

November: Today, the COP29 Presidency announced the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement. This was one of the Presidency’s top priorities for the year and it drove Parties towards this milestone achievement through intensive dual-track technical and political negotiations. This strategy broke through years of stalemate and finalises the last outstanding item in the Paris Agreement. Article 6 provides trusted and transparent carbon markets for countries as they collaborate to reach their climate goals. This cross-border cooperation is expected to reduce the cost of

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