Pakistan faces an annual loss of approximately $4 billion due to climate change-induced events, according to a report by Transparency International Pakistan (TIP). The report sheds light on the financial ramifications of climate change in the country, revealing vulnerabilities and inadequacies in existing frameworks for climate action.
Despite ranking among the top ten countries most affected by climate change, Pakistan lacks commensurate climate finance. TIP’s recommendations include empowering climate change institutions established under the Climate Change Act 2017 and involving public and expert participation for effective climate action.
Integrating transparency and climate perspectives into project designs and capacity building for auditing and reporting institutions are deemed necessary for accountability. Bridging the policy gap between national and provincial climate policies is imperative for cohesive action.
Furthermore, an increase in climate budget allocations is needed to address climate change effectively. The establishment of an open database on climate finance can enhance transparency and accountability while adopting global best practices can strengthen climate governance integrity.
Urgent action is required to mitigate the adverse impacts of climate change on Pakistan’s economy and environment, making strengthening climate governance essential for tackling these challenges. Transparency International Pakistan calls for concerted efforts to address climate change and its impacts on Pakistan’s future.
