BAKU: Prime Minister Shehbaz Sharif chaired a Climate Finance Round Table Conference at the COP29 Summit in Baku, highlighting the urgent financial needs of developing nations in their fight against climate change.
In his opening remarks, Prime Minister Shehbaz Sharif welcomed participants and underscored the severe impact of climate change on developing countries, which often lack the resources to combat environmental threats effectively.
Drawing from Pakistan’s experience with devastating floods in recent years, he emphasized that Pakistan understands the critical climate challenges faced by other developing countries.
The Prime Minister called on the global community to adhere to the United Nations Framework Convention on Climate Change (UNFCCC) principles. He stressed that achieving meaningful results requires commitment from developed nations to provide necessary support, especially by establishing specialized climate funds.
According to Shehbaz Sharif, developing countries will need approximately $6.8 trillion by 2030 to mitigate and adapt to climate change. He urged developed nations to actively assist in promoting eco-friendly energy sources, which could offer sustainable alternatives to fossil fuels and benefit vulnerable economies. He further emphasized that addressing the climate crisis is a shared responsibility and requires a strong partnership between developed and developing countries.
The conference, hosted by Pakistan, served as a platform for representatives of developing nations to voice their financial and environmental concerns, appealing for greater cooperation to meet ambitious climate targets.
Earlier, Shehbaz Sharif joined world leaders at the COP29 Summit in Baku, Azerbaijan, where environmental challenges and climate change solutions are at the forefront.
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