Vulnerable nations: PM for grant-based climate finance

Prime Minister Shehbaz Sharif urged for grant-based climate financing, public-private partnerships, and an increased allocation of funds for resilience and adaptation during his address at the Antalya Leaders Summit of the 31st UN Climate Change Conference (COP31). He emphasized that vulnerable nations required timely assistance and financial aid that would not exacerbate their debt problems.

The prime minister highlighted the significance of resilience and adaptation funds, particularly for economies grappling with severe climate disasters. He recounted Pakistan's experience with climate-induced disasters, including the 2022 floods that submerged one-third of the country, affected 33 million people, claimed over 1,700 lives, and resulted in economic losses surpassing USD 30 billion.

The prime minister shared the heartbreaking tale of a young man who, just two days before his wedding, lost his village to floodwaters, transforming a celebration into a somber occasion. He warned that Pakistan, despite contributing the least to climate change, was bearing the heaviest consequences, echoing his earlier UN warning that climate change knows no borders and necessitates collective action.

The prime minister expressed gratitude to Türkiye, especially President Recep Tayyip Erdogan and First Lady Emine Erdogan, for their support during the 2010 and 2022 floods. He also acknowledged Australia's valuable role as President of Negotiations. He praised Pakistan's progress in clean energy, noting that the country had added over 20 gigawatts of distributed solar capacity in two years, with clean sources comprising nearly 55 percent of its energy mix.

The prime minister also mentioned Pakistan's advancements in nuclear energy, with the Chashma-5 Nuclear Power Plant nearing completion, which will generate 1,200 megawatts of clean, emission-free electricity. He underscored Pakistan's efforts in electric mobility and set a goal to reduce projected emissions by up to 50 percent by 2035.

Emphasizing water security, the prime minister declared that water must not be weaponized and stressed that no nation should endanger the lives and livelihoods of downstream populations. He called for the honorable fulfillment of water-sharing agreements. The prime minister urged world leaders to convert their commitments into tangible actions, stating that the success of COP31 should be measured by the number of families protected, resources delivered, and sustained action taken to safeguard the planet.