GLASGOW: The United Kingdom (UK) has pledged over £55 million to help Pakistan tackle climate change and unlock climate investment as part of the ongoing 26th UN Climate Change Conference of the Parties (COP26).
According to a statement issued by British High Commission (BHC) on Thursday, the funding has been split into three parts.
- A 5-year climate resilience programme — worth £38 million — will help Pakistan’s poorest communities to protect themselves from the changing climate;
- A 5-year water governance programme — worth £15 million — will make water use in Pakistan more sustainable and water access fairer;
- Moreover, £2.5m has been allocated to support “new ways of attracting [the] much needed climate investment to Pakistan, including on the development of a Nature Performance Bond.
According to the press release, the British High Commissioner was due to announce “the urgently needed new programmes at a high-level reception for climate change stakeholders at the British High Commission in Islamabad this evening (Thursday)”.
“For Pakistan, climate change could be catastrophic. This £55m new funding will ensure Pakistan becomes more resilient to climate impacts, with more sustainable water use and greater access to climate finance, so improving lives and livelihoods,” Christian Turner said.
It is a critical time for Pakistan as global leaders come together for COP26. It has been ranked as the 8th most vulnerable country to climate change. By the year 2100, rising temperatures will melt 36% of glaciers along with the Hindu Kush and Himalayan ranges.
The UK has already achieved notable successes. At least 90% of the world’s economy is now covered by net-zero targets, up from less than 30% when the UK took on the presidency of COP26. This will help vulnerable countries such as Pakistan.
During the COP26, the UK has been working with Pakistan on:
- A #26For26 campaign to have 26 Pakistani companies commit to halving emissions by 2030 and getting to net-zero by 2050. 29 companies have so far signed up.
- Pakistan successfully joined more than 100 countries to pledge to end and reverse deforestation by 2030.
- Prior to the COP26, the UK had been working closely with Pakistan on climate change and will provide £7m this year to help the country achieve its climate change objectives.
Earlier this year, the UK launched a new programme in Lahore to promote cleaner brick production practices which will help improve air quality, reduce smog and fight climate change.
