Pakistan spends $10 bn annually to deal with climate change

Islamabad: Pakistan is spending up to 10 billion dollar annually to deal with the negative impacts of the climate change especially in the northern areas.

The data shared by the climate change ministry showed that the federal and provincial governments spend funds worth six to ten billion dollars annually to deal with the issues related to climate change such as hurricanes, cyclones, heatwaves, floods and melting of glaciers.

It said Pakistan contributes less than one percent of the global greenhouse gas emissions but yet, every year it keeps on climbing up the ladder of climate vulnerability. The climate change has already impacted the economy of Pakistan in the form of increasing frequency of floods and droughts, low crop yields, irregular weather patterns, less availability of fresh water and the loss of biodiversity. Pakistan is highly vulnerable to climate change due to its geographic location, high dependence on agriculture and water resources, low adaptive capacity of its people, and weak system of emergency preparedness.

There should be a compensation mechanism in place coupled with allocation of funds, especially for the countries such as Pakistan that are facing huge losses to Gross Domestic Product (GDP) because of climate change impacts.

Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam said the climate action has become imperative to avert various kinds of disasters including frequent floods, droughts, wildfires, and heatwaves.

“Pakistan is spending billions of dollars annually to cope with negative impacts of the climate change. The international community should fulfil its commitment and extend financial help to countries like Pakistan from the climate fund,” he said.