WEF Lauds Pakistan's Three-pronged Strategy To Build Greener Future

The World Economic Forum (WEF) has hailed Pakistan's three-pronged strategy to cope with adverse impacts of climate change and build greener sustainable future for the not only the country rather the entire region

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th May, 2021 ) :The World Economic Forum (WEF) has hailed Pakistan's three-pronged strategy to cope with adverse impacts of climate change and build greener sustainable future for the not only the country rather the entire region.

The WEF has highlighted three key decisions and actions made by Pakistan under the Prime Minister's vision of Clean Green Pakistan namely historical shift of 60 percent energy mix from fossil fuel to renewable by 2030, Green Stimulus Package amid Covid-19 pandemic providing over 85,000 green jobs and investment in green areas leading to national parks establishment to out of the box green financing instruments to help preserve environment.

In a video based on promising interventions made by Pakistan in conserving ecology and biodiversity amid rising environmental degradation and addressing economic crisis side by side with employment opportunities and gaining global funding of $180 million to address climatic issues.

It particularly mentioned that Pakistan had adopted three ways for building a greener future, firstly, Pakistan had pledged to source 60 percent of energy from renewable by 2030. "It has cancelled coal projects replacing them with hydroelectric power," it said where the step was made after lifting the illegal cap placed by prior regimes in the country to limit expansion of renewable energy solutions.

Secondly, the WEF also praised the Green Stimulus announced by Prime Minister Imran Khan to train Covid-idled youth for plantation under massive 10 billion Tree Tsunami plantation programme. "Pakistan has generated over 85,000 green jobs from plant care to the protection of forests. It has been training 5,000 young people to be 'nature guardians'," it said while appreciating the effort.

Lastly, the WEF underscored Pakistan's focus towards investing in green space where the country has attracted US$180million in funding towards the creation of 15 new national parks that helped in increasing the protected areas green cover to 15 percent from existing 12 percent with 45 national parks being established till 2023.

Moreover, it has also shed light on one of the unique strategy developed by the country to address climate change mitigation and financing in one go. "Its also launching a $500 million 'green Eurobond'," it said which was a financial tool for the developed countries to help the country reduce green house gas emissions and assist efforts to build a climate resilient and sustainable region.

The Forum also mentioned the Carbon stocks estimation study being launched by the country that would help develop authentic data of carbon absorbed by the forests after Billion Tree Afforestation Project (BTAP) in Khyber Pakhtunkhwa and 10 Billion Tree Tsunami Plantation project.

"And will soon provide a monetary valuation of its green space making its worth clear and easier to protect," it said.

The WEF had suggested that as a pandemic devastates the globe and climate change threatens the humans' way of life our relationship with nature demands a rethink. "One million animal and plant species worldwide are at risk of extinction," the WEF warned as these species would lose their existence on the Earth due to habitat loss amid environmental degradation.

It also pointed out that investing in a nature-positive economy could generate 395 million jobs by 2030 which further testifies Prime Minister Imran Khan's vision of replenishing nature and economy through environmental conservation and protection alongwith employment creation.

The Forum after praising Pakistan's efforts left a question to the rest of the countries, "How your country is building a greener future?" Earlier SAPM on Climate Change Malik Amin Aslam has said the present government was ensuring arduous mitigation and adaptation measures to address disastrous impacts of global climate crisis on the counrry's socio-economic sectors for achieving environmental and economic sustainability.

"The incumbent government of Prime Minister Imran Khan is committed to the challenge of initiating a green recovery through ecosystem restoration to protect nature and create much needed green employment", he stressed.

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