Caretaker Prime Minister Anwaar ul Haq Kakar has underscored the urgency of providing developing countries with financial, technological, and capacity-building support to address the challenges of climate change. Speaking at a high-level roundtable on the Manner of Implementation-Global Stocktake in Dubai, the Prime Minister emphasized the tangible impact of climate change, highlighting recurring natural disasters and the associated adaptation needs in critical sectors like water, agriculture, urban resilience, natural capital, and human health.
Addressing the financial aspect, Prime Minister Kakar stressed that finance plays a pivotal role as the key enabler for climate action. He noted that the financial requirements of developing countries far exceed the unfulfilled one hundred billion Dollar pledge, with a staggering need for six trillion Dollars by 2030. The annual adaptation needs alone stand at 387 billion dollars until 2030, creating a substantial gap given the current estimated adaptation finance of around 21 billion dollars.
Prime Minister Kakar called upon developed countries to urgently address shortfalls in their finance commitments under the Paris Agreement, highlighting the necessity of unlocking scaled-up and improved financial support. This, he emphasized, would empower developing countries to bridge implementation gaps in their mitigation and adaptation actions.
Furthermore, the Prime Minister advocated for capacity-building support to assist developing countries in formulating appropriate instruments and projects for mitigation and adaptation. He urged the harnessing of the private sector’s capacity for climate action, signaling a pivotal moment for collaborative efforts in addressing the global challenge of climate change.
