World News | Pakistan PM Shehbaz Sharif Calls for USD 6.8 Trillion in Climate Funding for Developing Nations at COP29

Baku, Azerbaijan: On November 13, during the 29th UN Climate Change Conference (COP29), Pakistan’s Prime Minister Shehbaz Sharif made an impassioned plea for a substantial increase in climate funding for developing nations. Highlighting the urgent need for USD 6.8 trillion in climate finance by 2030, Sharif emphasized the stark challenges these countries face against a backdrop of limited resources.

Sharif pointed out the importance of developed countries meeting their financial commitments, which have often been left unfulfilled, to assist developing nations in mitigating the dire impacts of climate change. “We need urgent climate finance to tackle issues brought by environmental changes,” the Prime Minister declared, insisting on the necessity for increased funding targets.

In particular, Sharif referred to the catastrophic floods Pakistan recently endured, underscoring the urgent need for developed countries to align their financial allocations with the UN climate framework’s objectives. He also highlighted the inadequacy of the existing USD 100 billion annual climate finance goal established in 2009, suggesting it requires significant escalation due to the escalating global impact of climate change.

During the summit, PM Sharif actively engaged in the “World Leaders’ Climate Action Summit,” where he held informal discussions with international figures. Among them were Azerbaijani President Ilham Aliyev and UN Secretary-General Antonio Guterres, both of whom extended a warm reception to Sharif.

The Prime Minister also conversed with UAE President Sheikh Mohamed bin Zayed Al Nahyan on fostering bilateral climate cooperation and Turkish President Recep Tayyip Erdogan regarding strategies to address climate change and environmental pollution on a global scale.

Furthermore, crucial discussions with UK Prime Minister Keir Starmer focused on enhancing Pakistan-UK relations, while meetings with Uzbek President Shavkat Mirziyoyev and Tajikistan President Emomali Rahmon centered on protecting glaciers and water resources in both Pakistan and Central Asia, as well as boosting regional connectivity.

Sharif also took the opportunity to engage with Nepalese President Ram Chandra Poudel and Bangladesh’s Chief Advisor Dr. Muhammad Yunus. Their talks covered topics such as rising temperatures in South Asia, the dangers posed by escalating sea levels, and efforts in forest conservation, alongside bilateral relations.

Accompanying the Prime Minister on this significant diplomatic mission were Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, along with Romina Khurshid Alam, the Prime Minister’s Coordinator on Climate Change, demonstrating Pakistan’s comprehensive approach to addressing these critical environmental issues.