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Pakistan’s Annual Loss: $4 Billion from Climate Change

Climate Change

The report by Transparency International Pakistan sheds light on the significant economic toll that climate change is exacting on Pakistan, estimating a loss of approximately $4 billion per year due to climate change-induced events. This underscores the urgency for robust climate action and governance in the country.

The report emphasizes Pakistan’s vulnerability to climate change and the necessity for adequate financing to fulfill commitments under nationally determined contributions (NDC). Despite being among the top ten countries most affected by climate change, Pakistan does not rank among the top recipients of climate finance, highlighting a critical gap in addressing climate-related challenges.

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Transparency International Pakistan’s recommendations include enhancing the operationalization and empowerment of climate change institutions, promoting public and expert participation, integrating transparency and climate perspectives into project designs, and strengthening capacity building for auditing and reporting institutions. Additionally, bridging the policy gap between national and provincial climate policies, increasing climate budget allocations, establishing an open database on climate finance, and enhancing climate governance integrity using global best practices are crucial steps highlighted in the report.

Overall, the report underscores the urgent need for strengthened climate governance in Pakistan to effectively address the challenges posed by climate change, safeguard the economy and environment, and ensure sustainable development for future generations.