Finance Minister Calls for Climate Funding for Pakistan

On September 21, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb emphasized Pakistan’s climate financing requirements, disaster preparedness, and plans for regulated virtual assets during meetings in New York. At the World Economic Forum’s “Financing Planet and Prosperity” summit, Aurangzeb addressed Pakistan’s vulnerability to climate-related disasters, especially floods that have impacted infrastructure and communities.

He detailed government initiatives to enhance disaster response frameworks, early warning systems, and climate investment plans. Aurangzeb stressed that international aid must be complemented by domestic resources and fiscal reserves.

He mentioned that Pakistan has secured funding from the World Bank, Asian Development Bank, and international capital markets for relief, adaptation, and reconstruction projects. Additionally, Aurangzeb urged international climate funds, including the Green Climate Fund and Loss and Damage Fund, to streamline processes and expedite access to financing.

At the United Nations Digital Cooperation Day 2026, he outlined Pakistan’s progress in establishing a regulated virtual assets framework, emphasizing that tokenization could tackle practical economic needs such as reduced remittance costs, financing for small and medium enterprises (SMEs), sovereign debt, and improved financial access.

Aurangzeb advocated for government backing of private sector innovation, alongside inclusive digital infrastructure and international collaboration. He also called for emerging nations to participate in creating global standards for digital assets and associated technologies. During the launch of the COP31 Action Agenda, Aurangzeb affirmed Pakistan’s alignment with its priorities, which match the country’s climate objectives and Nationally Determined Contributions (NDC) 3.0.

He highlighted clean energy, electrification, renewable energy, energy-efficient buildings, climate-resilient cities, climate education, food security, and climate-resilient agriculture as critical areas for action. Aurangzeb welcomed the proposed Climate Implementation Bridge, viewing it as a mechanism to convert climate commitments into investable and bankable projects.

He acknowledged implementation as the primary challenge, rather than merely formulating plans, and praised the agenda’s emphasis on specific actions, key performance indicators, and measurable outcomes.