ISLAMABAD: UNDP Pakistan deputy resident representative Van Nguyen has emphasized the importance of public-private partnership, institutional collaboration and streamlining regulatory frameworks in achieving Pakistan’s renewable energy goals as the country faces rising climate change challenges.
Speaking at a stakeholder consultation on “Climate Finance in the Renewable Energy Sector” in Islamabad, she called for a collective approach to transform climate challenges into bankable climate finance projects aligned with global agreements and best practices.
Climate change threatens to shrink Pakistan’s GDP by up to 9% by 2050, requiring $350 billion by 2030 and $7–14 billion annually for adaptation. To meet its growing energy demands while reducing greenhouse gas (GHG) emissions, Pakistan’s transition to clean, renewable energy is critical. This shift requires significant investment, with climate finance key to unlocking the necessary funding.
Dr. Zulfiqar Younas, Additional Secretary at Ministry of Climate Change, shared insights into Pakistan’s climate challenges and ongoing efforts to achieve sustainability and climate resilience. He also highlighted the Ministry’s active engagement with development partners, the GCF, and other climate finance platforms to secure funding for renewable energy initiatives.
The event also featured sessions by climate finance experts. Mr. Fernando Anaya, Climate Finance Expert at United Nations, provided an overview of global climate finance opportunities and best practices for preparing investor-friendly proposals.
Ms. Ying Zhang, Regional Energy Specialist at UNDP, shared insights on global climate finance trends, drawing from COP29 and ongoing energy transition initiatives. Lastly, Ms. Jacqueline Lam, Regional Director for Asia at SEforALL, talked about energy transition, investment planning, and pathways for reducing GHG emissions to meet Paris Agreement targets.
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