Business
Hollow victory
字号+ Author:Smart News Source:Business 2025-01-13 10:20:50 I want to comment(0)
THE conclusion of COP29 in Baku has left developing nations — struggling with the mounting costs of climate disasters — feeling lowballed. While the adoption of a $300bn annual climate finance target by 2035 marks a threefold increase from rich nations’ previous $100bn commitment (which was met two years late in 2022), it is a pale shadow of what the world needs to slow down climate change. Climate experts have stressed the need for $1.3tr in annual climate finance to meet the Paris Agreement’s goals. The Global North’s insistence on private sector financing and blame-shifting to high-emitting economies like China and oil-rich Gulf states further muddles the discourse. For Pakistan, the stakes are particularly high. With a $348bn climate finance gap looming by 2030, our efforts at mitigation and adaptation risk being stalled. Despite this, we demonstrated resilience at COP29. From the Recharge Pakistan initiative to the National Climate Finance Strategy, Islamabad’s proposals reflect its determination to confront the crisis. The Pakistan Pavilion, a hub of dialogue and advocacy, was a testament to this commitment, even amid severe economic constraints. Yet, without significant global support, such steps remain aspirational at best. The world cannot afford to delay action. With 2024 poised to be the hottest year on record and global temperatures on track to rise by 3.1°C by century’s end, inaction will be catastrophic. Wealthy nations must not only deliver on their $300bn promise but also ensure equitable access to these funds. Red tape that slows disbursement must be dismantled. At home, Pakistan must accelerate the transition to renewable energy, implement strict environmental protection laws, and establish a robust climate change monitoring system. Our cities need climate-smart urban planning, while rural areas require sustainable farm practices and water management solutions. The government must also enhance coordination between the federation and provinces on climate initiatives. However, real progress will depend on both domestic action and global solidarity. The recent floods, droughts, and other extreme weather events worldwide underscore our shared vulnerability. As we look towards next year’s summit in Brazil’s Amazon rainforest, Pakistan must continue its advocacy for climate justice while demonstrating tangible progress on its own commitments. The presence of climate-sceptic leadership in major economies adds urgency to securing and implementing robust financing mechanisms now. The time for half-measures is long past.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
Stewards intervene to stop Israel, France football fans clash at Paris match
2025-01-13 09:55
-
میگن مارکل نے نئی ویڈیو شیئر کرتے ہوئے مداحوں کو بڑے اعلان سے خوش کر دیا ہے۔
2025-01-13 08:25
-
ڈیوڈ شوئمر نے خوفناک فرینڈز کے منظر کو یاد کیا جس نے شریک اسٹار کو ہسپتال بھیج دیا۔
2025-01-13 08:11
-
2025ء کی شروعات میں شہزادہ ہیری کی نئی ملازمت جبکہ میگھن مارکل توجہ کا مرکز ہیں۔
2025-01-13 08:08
User Reviews
Recommended Reads
Hot Information
- ANP sees ‘well-planned intrigue’ behind growing terrorism in KP
- 2025ء کی شروعات میں شہزادہ ہیری کی نئی ملازمت جبکہ میگھن مارکل توجہ کا مرکز ہیں۔
- ملی بو بی براؤن نے بالغ نظر آنے پر تنقید کرنے والوں کو کڑا جواب دیا۔
- چیلتنہم ریسز میں لُوکاس ٹِنڈال پرنسز این کی جڑواں بہن کی عکاسی کر رہے تھے۔
- Karachi needs 15,000 public transport buses, says Sharjeel
- میگن مارکل نے نئی ویڈیو شیئر کرتے ہوئے مداحوں کو بڑے اعلان سے خوش کر دیا ہے۔
- مارک والبرگ کی فلم فلائٹ رسک کا ٹریلر ریلیز، مداحوں کے بہت سے سوالات
- ٹام ہالینڈ زینڈایا کے ساتھ اپنی باپ کی زندگی کے لیے بلاک بسٹر فلمیں چھوڑنے کا ارادہ رکھتے ہیں۔
- ZHR WRITING PRIZE: THE NIGHT SHIFT
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content