United Nations (TDI): Prime Minister Shehbaz Sharif on Wednesday urged the global community to honor its climate finance commitments, warning that reliance on loans cannot resolve the climate emergency facing vulnerable countries like Pakistan.
“Loans piled upon loans are not a solution,” the premier said while addressing a Special Climate Event organized by UN Secretary-General António Guterres and the President of Brazil, host of COP-30, where member states presented new climate targets for 2035.
The prime minister said Pakistan was committed to being part of the global solution but called on developed countries to deliver on their pledges for the sake of future generations. He recalled that Pakistan was still reeling from the devastation of the 2022 floods, which caused more than $30 billion in damages and displaced millions. This year alone, he noted, torrential rains, flash floods, and urban inundation had affected over five million people, destroyed 4,100 villages, and claimed more than 1,000 lives.
Despite contributing minimally to global greenhouse gas emissions, Pakistan faced disproportionate consequences, he added. “Our resolve to pursue climate action remains firm. In 2021, Pakistan committed to an unconditional 15% reduction in projected emissions by 2030, a pledge we have already fulfilled,” he said.
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Currently, renewable sources account for 32% of Pakistan’s energy mix, while solar generation has grown seven-fold since 2021. He also highlighted the restoration of 23,000 hectares of mangroves, though progress on adaptation plans was being hampered by a lack of international finance.
Outlining new goals, PM Shehbaz announced plans to raise the share of renewables and hydropower to 62% of the energy mix by 2035, add 1,200 megawatts of nuclear power by 2030, transition 30% of transport to cleaner mobility, establish 3,000 charging stations, expand climate-smart agriculture, secure water resources, and implement the “1 Billion Trees” initiative.
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In his remarks, Secretary-General Guterres said limiting global warming to 1.5°C was still possible, stressing that clean energy was now powering jobs and growth while insulating economies from fossil fuel volatility. He underscored the need for ambitious national plans for 2035 and a credible global response at COP-30 in Brazil, including mobilization of $1.3 trillion annually in climate finance by 2035.
The UN chief also emphasized that countries least responsible for the crisis were suffering the most, calling for debt relief measures, innovative financing tools such as debt swaps, and mechanisms like disaster-pause clauses to ease the burden on vulnerable nations.
