BAKU : The Sustainable Development Policy Institute hosted a series of engagements at the Pakistan Pavilion during COP29, bringing together global thought leaders to address the climate challenges faced by vulnerable nations like Pakistan. These discussions focused on exploring solutions for enhancing climate resilience and promoting sustainable development.
Dr. Abid Qaiyum Suleri, Executive Director of SDPI, highlighted the critical role of finance in addressing Pakistan’s climate crisis, emphasizing that COP29 was a “finance COP.” He called for increased international investment and private sector involvement to support Pakistan’s climate finance strategy and resilience-building efforts.
M. Abdul Aleem, President of OICCI, underscored climate change as Pakistan’s “biggest threat” and pledged $50 million for green investments. He encouraged the private sector to explore financing tools such as green bonds to expand renewable energy infrastructure in Pakistan. BASF’s Andrew Bailey and Unilever’s Fiona Duggan further stressed the importance of private sector contributions and localized climate strategies to empower small and medium enterprises (SMEs).
Veronica Nyhan Jones, representing the International Finance Corporation, revealed plans to raise $20 billion globally for climate finance, with a portion dedicated to supporting Pakistan’s renewable energy goals. She emphasized the urgency of capital mobilization to help countries like Pakistan achieve their climate objectives.
The session on climate justice saw judicial leaders from across the world, including Pakistan’s Justice Mansoor Ali Shah, who declared climate finance as a “fundamental human right.” The panel called for judicial coalitions to ensure governments and corporations are held accountable for climate actions. Justice Sapana Malla of Nepal and Justice Antonio Herman Benjamin of Brazil echoed the need for proactive legal frameworks to address climate issues.
In a panel on Pakistan’s energy transition, Dr. Khalid Walid of SDPI presented the country’s efforts to reduce CO2 emissions and improve energy efficiency, with projections indicating annual savings of $6.4 billion by 2030. Sanjay Vashist of the Climate Action Network South Asia advocated for the establishment of a South Asia Renewable Energy Fund to boost regional clean energy initiatives.
The discussions on industrial decarbonization stressed the need for green innovations and financial mechanisms to support Pakistan’s industrial transition. Bilal Anwar of NDRMF and Nadia Rehman from the Ministry of Planning emphasized that decarbonization is key to economic modernization, while Ahmed Lak from OGDCL highlighted Pakistan’s geothermal projects as part of the green energy strategy.
As COP29 came to a close, experts expressed optimism that innovative financing solutions, judicial accountability, and regional cooperation would pave the way for a sustainable, climate-resilient future for countries like Pakistan, despite the ongoing challenges.
