Finance Minister Muhammad Aurangzeb has called for greater accountability and effective implementation of climate finance initiatives, warning against commitments that fail to translate into action.
Speaking at the 17th V20 Ministerial Dialogue on the sidelines of the World Bank-IMF Annual Meetings in Bangkok on October 12, Aurangzeb reaffirmed Pakistan’s support for the V20 climate finance agenda.
He appreciated the V20’s support in developing Pakistan’s Climate Prosperity Plan and identifying bankable projects to attract climate financing. He also stressed the need for fiscal responsibility and stronger domestic and external buffers to withstand climate challenges and geopolitical shocks.
Aurangzeb highlighted opportunities to attract green investment, including Pakistan’s inaugural green Panda bond, and welcomed a proposed fund initiative. However, he emphasised that such initiatives required collective ownership, accountability and effective implementation.
Citing the Loss and Damage Fund as an example, the finance minister cautioned against climate finance initiatives remaining unimplemented. He reaffirmed Pakistan’s commitment to advancing the V20’s efforts to mobilise climate financing.
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