At the COP29 climate summit in Baku, Azerbaijan, Pakistan’s delegation introduced the National Climate Finance Strategy (NCFS), outlining the country’s approach to securing both international and domestic funding for climate-related challenges. The NCFS aims to bolster Pakistan’s capacity to address the impacts of climate change, a critical issue for a nation ranked among the top 10 most climate-vulnerable countries. In 2022, devastating floods caused $30 billion in damages, affected 33 million people, and claimed 1,700 lives.
Finance Minister Muhammad Aurangzeb and Romina Khurshid Alam, the Prime Minister’s Coordinator on Climate Change, presented the strategy at the Pakistan Pavilion. According to the Ministry of Climate Change and Environmental Coordination, the strategy centers around three objectives: enhancing sectoral resilience, defining institutional roles, and improving access to climate finance from diverse sources.
Finance Minister Aurangzeb emphasized that the NCFS is a significant step in Pakistan’s effort to systematically tap into available climate finance. “The strategy is grounded in transparency, accountability, and inclusivity,” he said, highlighting how it provides clear guidelines for securing funding to support climate resilience projects. The NCFS identifies sector-specific priorities and strategies to mobilize resources.
Romina Khurshid Alam described the launch of the NCFS as “historic,” noting that it marks the first-ever climate finance strategy for Pakistan. She explained that the strategy is designed to address a $348 billion climate finance gap by 2030, which is crucial to achieving Pakistan’s climate resilience and low-carbon development goals. The strategy promotes a whole-of-economy approach, ensuring that resources are directed towards the country’s most vulnerable sectors and communities. Additionally, a national climate finance portal will track all financial inflows and outflows, ensuring transparency.
Alam also outlined Pakistan’s broader climate vision for 2050, which includes resilient infrastructure, climate-smart cities, and sustainable ecosystems. The strategy emphasizes inclusive policies, especially empowering marginalized groups like women, and integrates circular economy principles to promote sustainable development.
The NCFS builds on Pakistan’s National Climate Change Policy, with a goal to reduce emissions by 50% by 2030—15% through domestic efforts and 35% with international support. Projects such as mangrove restoration and renewable energy development are already underway as part of this commitment.
