Finance Minister Exposes Dark Reality of Climate Programs
Finance Minister Muhammad Aurangzeb has called for greater accountability and effective implementation of climate finance initiatives, warning against commitments that … Read More The post Finance Minister Exposes Dark Reality of Climate Programs appeared first on ProPakistani .
Finance Minister Muhammad Aurangzeb has urged for enhanced accountability and successful execution of climate finance projects, cautioning against pledges that do not lead to action. Addressing the 17th V20 Ministerial Dialogue during the World Bank-IMF Annual Meetings in Bangkok on October 12, Aurangzeb reiterated Pakistan’s backing of the V20 climate finance plan.
He acknowledged the V20's assistance in crafting Pakistan's Climate Prosperity Plan and pinpointing bankable projects to draw in climate funding. Aurangzeb also underscored the necessity of fiscal prudence and fortified domestic and external reserves to endure climate challenges and geopolitical disruptions. The finance minister highlighted prospects to draw in green investment, such as Pakistan's maiden green Panda bond, and welcomed a proposed fund scheme.
However, he emphasized that these endeavors necessitate shared ownership, accountability, and successful implementation. Drawing from the Loss and Damage Fund as an example, Aurangzeb warned against climate finance projects remaining unexecuted. He reaffirmed Pakistan’s dedication to advancing the V20’s endeavors to pool climate funding.
Written by urgent.news from ProPakistani's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
