Envoy For Fulfillment Of Climate Finance Commitments To Support Vulnerable Developing States

Ambassador of Pakistan to the United Arab Emirates Faisal Niaz Tirmizi on Wednesday citing the gravest threat posed by climate change to human health and global economy, stressed the need to fulfill commitments for climate finance to ensure the implementation of remedial actions by developing countries

ABU DHABI, (UrduPoint / Pakistan Point News - 17th Apr, 2024) Ambassador of Pakistan to the United Arab Emirates Faisal Niaz Tirmizi on Wednesday citing the gravest threat posed by climate change to human health and global economy, stressed the need to fulfill commitments for climate finance to ensure the implementation of remedial actions by developing countries.

The ambassador, addressing the 14th Session of the International Renewable Energy Agency (IRENA) Assembly here, emphasised building upon the successful outcome of COP28, hosted by the UAE government last year which led to important decisions including the operationalization of the Loss and Damage Fund, according to a press release.

He applauded Director General, Francesco La Camera for his leadership and initiatives taken by IRENA towards cleaner and greener future.

“The world is witnessing a rapid change in energy landscapes to tackle climate change and its impacts. Climate change poses gravest threat to human health and global economy. It is significant for countries like Pakistan that recently faced super floods in year 2022, resulting in loss of innocent lives, displacement of millions of people and economic cost of billions of dollars’’, Tirmizi highlighted.

The ambassador said that according to Global Climate Risk Index, Pakistan was ranked as the 5th most vulnerable country to climate change. Even though the share of contribution of Pakistan in terms of emissions is far less comparing other developed and developing countries.

Tirmizi said that Pakistan intended to take the share of clean renewables including hydropower to at least 60% by 2030.

This will not only help in ensuring energy equity, affordability, sustainability but would also result in significant reduction of emissions from the power sector, he added.

Ambassador Tirmizi emphasized that the global energy transition must be just, inclusive, and equitable. The developing countries require support to move towards a greener future. International cooperation must be scaled up to catalyze financing and investment to accelerate energy transitions in developing countries, he added.

Tirmizi urged IRENA members to devise strategies that ensure access to grants and concessional financing to achieve the goal of swift, just, and equitable transition.