Islamabad :The Ministry of Climate Change and Environmental Coordination (MoCC&EC), in partnership with the United Nations Development Programme (UNDP) and Global Shield Secretariat, has finalized Pakistan’s priority actions in climate and disaster risk finance and insurance (CDRFI). The recently concluded validation session marked the culmination of a comprehensive stock-take and gap analysis, positioning Pakistan to seek funding under the Global Shield initiative.
Pakistan’s increasing vulnerability to climate change, combined with limited global development finance, underscores the need for innovative funding mechanisms. The Global Shield offers a unique approach by providing pre-arranged, trigger-based financial support to mitigate climate-related risks, marking a shift from traditional funding models toward scalable resilience solutions.
Identified as a pathfinder country at COP27, Pakistan has initiated a structured process to enhance its climate finance capabilities. With support from UNDP, MoCC&EC conducted seven consultations across the country, engaging stakeholders from various sectors. The final session in Islamabad provided a platform for government officials, development partners, and private entities to validate findings and address key gaps in Pakistan’s CDRFI strategies.
Coordinator to the Prime Minister on Climate Change, Ms. Romina Khursheed Alam, emphasized the importance of leveraging all available resources to bolster Pakistan’s financial resilience. She stated, “The Global Shield against Climate Risks is an invaluable opportunity for Pakistan to meet its climate and disaster risk financing needs.”
UNDP Deputy Resident Representative, Ms. Van Nguyen, expressed gratitude for the ministry’s confidence in UNDP’s role in the initiative, noting that the success of Global Shield in Pakistan hinges on collaborative engagement. She highlighted the collective expertise present, underlining the commitment to develop effective risk finance solutions.
The session concluded with affirmations of international support. German Embassy’s Dr. Sebastian Paust reiterated Germany’s commitment to Pakistan’s climate goals, while Mr. Daniel Stadtmueller, Global Shield Implementation Lead, pledged continued support in delivering tailored financial solutions. The Global Shield’s backing represents a significant step toward protecting Pakistan’s most vulnerable from future climate impacts.
