Karachi: Pakistan is losing close to one percent of its GDP each year due to climate-related damages, as revealed at the 4th Pakistan Climate Conference. Government leaders, development partners, and business executives attending the event urged an accelerated shift from policy frameworks to actionable climate initiatives.
According to the Overseas Investors Chamber of Commerce and Industry (OICCI), the Conference gathered federal and provincial policymakers, international institutions, climate experts, journalists, and corporate leaders to address Pakistan's increasing vulnerability to floods, heatwaves, and economic disruptions. Despite contributing less than one percent to global emissions, the country faces significant climate challenges.
Federal Minister for Climate Change and Environmental Coordination Dr. Musadik Masood Malik highlighted Pakistan's position on the frontline of a rapidly intensifying crisis. "I commend OICCI for creating a platform where climate resilience is treated not as CSR, but as an economic imperative," he said. He referred to Pakistan's updated climate commitments, which aim for a 50 percent emissions reduction by 2035, requiring a substantial investment of $565.7 billion.
Finance Minister Senator Muhammad Aurangzeb described climate change as an existential threat. He emphasized the need to mobilize available financing for projects, underscoring the crucial role of the private sector in providing capital, innovation, and technical expertise.
Chongguang Yu (Charles), Regional Lead for Sustainable Finance at UNDP, identified fragmented systems as a core challenge rather than capital availability. He advocated for blended finance, risk-sharing mechanisms, and programmatic investment pipelines to enhance private-sector participation.
President OICCI Yousaf Hussain noted the Government of Pakistan's tangible progress on its climate agenda, from public-private partnerships at the World Economic Forum in Davos to finalizing a $20 billion, 10-year Country Partnership Framework with the World Bank, and preparing to launch the country's first Green Panda Bond.
Senior Vice President OICCI Jason Avanceña stated that the Conference aimed to move beyond rhetoric towards practical economic outcomes, focusing on modernizing Pakistan's power grid, accelerating renewable energy, and exploring Blue Economy opportunities.
The event concluded with the 2nd OICCI Climate Excellence Awards, recognizing organizations advancing renewable energy, circularity, water stewardship, and inclusive climate action.
As climate risks escalate, speakers at the Conference agreed that climate policy must now drive Pakistan's economic planning, investment strategy, and national development agenda.