Islamabad:
The federal government and the Asian Development Bank (ADB) agree to strengthen the cooperation on climate insurance and environmental sustainability during high -level lectures in Islamabad on Monday.
The Federal Minister of Climate Change and Environmental Coordination Dr. Musadik Malik and ADB General Bruno Carrasco led discussions about a comprehensive strategy to tackle Pakistan’s urgent climate challenges.
Both sides emphasized the need for urgent action with a special focus on supporting youth -led climate raisives through incubation programs, mentorship and financing options.
The partnership aims to strengthen young innovators to develop scalable solutions while placing Pakistan, which is competitive in the global green economy.
The meeting explored opportunities for increased climate financing with plans to mobilize investments for sustainable development projects.
Carbon Credit Markets also contained prominence in discussions where both parties agreed to explore mechanisms to make money from reducing emissions and improving environmental performance.
Malik emphasized the importance of moving from policy planning to implementation and ensuring ADB on Pakistan’s full obligation to achieve concrete results. “We need to ensure that our strategies are translated into effect in the real world,” he said.
The ADB delegation confirmed its support for Pakistan’s climate agenda and highlighted the opportunities for knowledge sharing, political-based loans and capacity building programs to strengthen the institutional reactions to climate change.
