Parliamentary Panel Reviews COP 29, Urges Local Solutions and Financial Accountability

Islamabad (Nadeem Tanoli) The Standing Committee on Climate Change and Environmental Coordination met on Thursday under the chairpersonship of Ms. Tahira Aurangzeb to review Pakistan’s participation in the recently concluded COP 29. The committee highlighted the country’s active role in the global summit, its achievements, and the path forward for addressing climate challenges through local solutions and equitable financial mechanisms.
The Ministry of Climate Change briefed the committee on Pakistan’s comprehensive involvement at COP 29, where Prime Minister Shehbaz Sharif led the delegation at the World Leaders Climate Action Summit. Key initiatives presented included the launch of Pakistan’s Climate Finance Strategy, which sets adaptation and mitigation goals for 2030, and new Carbon Market Guidelines under Article 6 of the Paris Agreement. The Pakistan Pavilion hosted over 52 events, showcasing efforts by 60 organizations and drawing considerable global attention.
During the briefing, the Secretary of Climate Change reported the signing of a $200 million flood insurance MOU under the Global Shield Framework. However, challenges such as delays in fulfilling international pledges to the Loss and Damage Fund and barriers in accessing climate finance were emphasized.
Committee members raised concerns about the tangible benefits of Pakistan’s participation in COP 29 and the utilization of funds allocated for the national pavilion. The Secretary assured the panel that unused funds remain under the Ministry’s control and highlighted the potential for concessional loans and approvals for new climate projects. Members stressed the need for including elected representatives in future delegations, citing their understanding of grassroots challenges.
The committee praised Pakistan’s proactive role in negotiations on the New Collective Quantified Goal (NCQG), which focuses on securing non-debt-inducing finance for developing nations. Priority areas for Pakistan include climate adaptation, technology transfer, and ecosystem restoration.
The committee deferred consideration of “The Pakistan Environmental Protection (Amendment) Bill, 2024,” moved by MNA Nuzhat Sadiq, to its next meeting.
The meeting was attended by several MNAs, including Ms. Tahira Aurangzeb, Mr. Aqeel Malik (virtually), Mir Khan Muhammad Jamali, and Dr. Shazia Sobia Aslam Soomro, among others, alongside senior officials from the Ministry of Climate Change.
This debrief marked a significant step in ensuring accountability and refining Pakistan’s climate policies following its prominent participation in COP 29