In his inaugural visit to Pakistan as the UK Minister for International Development, Hamish Falconer MP announced a landmark contribution of £108 million in climate finance to support Pakistan’s battle against the climate crisis. This funding aims to catalyze over half a billion pounds in private sector climate investments, facilitated through a strategic partnership with the International Finance Corporation (IFC).
The initiative emphasizes fostering climate resilience and economic growth. The funding will create more than 100,000 low-carbon, climate-resilient jobs, demonstrating a commitment to sustainable livelihoods. Additionally, it will support the development of over 200 MW of clean energy, helping Pakistan transition to renewable energy sources and reduce its reliance on fossil fuels.
Pakistan is among the most vulnerable countries to climate change, facing devastating impacts such as floods, heatwaves, and glacial melting. The nation’s climate finance needs are immense, with substantial investment required to build resilience and support adaptation. Falconer’s announcement underscores the urgency of action, stressing that inaction is not an option.
This funding represents a significant step toward addressing Pakistan’s climate challenges. By mobilizing private investments and promoting green energy, the UK aims to not only meet immediate climate goals but also foster long-term economic and environmental sustainability in Pakistan. Such partnerships reflect the shared responsibility of the global community to support vulnerable nations in mitigating and adapting to climate change impacts.