HomeDiplomatic NewsINGOsPakistan’s proposed nature performance bond

Pakistan’s proposed nature performance bond

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Islamabad, 3 June 2021— Pakistan is amongst the most vulnerable countries in the world to the negative impacts of climate change. To combat climate change impacts, Pakistan has spearheaded innovative initiatives such as the Billion Tree Tsunami for which it has received international recognition; biodiversity and nature preservation initiatives; and, a green stimulus package to ensure a rapid recovery from the COVID-19 pandemic.

 

 By mainstreaming adaptation and mitigation through ecologically targeted initiatives covering afforestation, biodiversity conservation, Pakistan will position itself firmly on an environmentally resilient pathway to sustainable growth and prosperity. As part of its climate-resilient growth initiatives, Pakistan is endeavoring to establish a Nature Performance Bond with a defined set of ambitious ecosystem restoration targets to provide Pakistan with accelerated access to finance for the development

 The Governments of UK, Canada, and Germany appreciate the Government of Pakistan’s efforts towards launching this innovative initiative which could contribute significantly to promoting action on climate change and sustainable development. We are looking forward to engage in dialogue on the modalities of such a Nature Performance Bond that could enable a green recovery and accelerate natural capital restoration action in the country. This bond will be developed by a consortium of financial advisers consistent with market conditions thereby creating an enabling environment for private sector finance as well as non-traditional development partners to play their role in sustainable development.

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