The flow of climate finance in context to Pakistan

Abstract

As the world’s climate is changing rapidly, developing countries are the ones paying the highest price for it. Climate Finance is generated for this purpose and aims to mitigate the negative impacts of these climate changes. Unfortunately, Pakistan hasn’t been able to tap on these resources due to various reasons which includes political and economic barriers, along with social and technological ones. Pakistan has only received what you can call bread and crumbs of it. Since Pakistan is defenseless, generally, against such impacts of climate change it needs these resources, along with other similar ones, for its economic development and future enhancements. Pakistan is an agricultural country and this sector contributes 21% to its GDP. Due to the impacts of climate change, our agricultural sector is being greatly affected. Moreover, even though Pakistan has the greatest number of glaciers, the rate of its meltdown is increasing hastily causing problems such as water scarcity. Alongside this, Pakistan has the most elevated yearly deforestation rate in Asia. Pakistan is unable to attract enough local and international funding which it is in dire need of. Political action plans need to be integrated in the structure of the governing sector such that no personal will may corrupt the efficient financial aid economic process that may cause the false allocation and implementation of regional policies. Issues to tackle grave issues such as that of climate change need to have an efficient implementation plan such that it is sustainable and may even be revisited to help attain sustenance as per the plan’s core principles. Pakistan also needs to increase research opportunities in this field for constant development in sustainable solutions and to enhance the flow of climate finance in Pakistan.