Shehbaz Sharif Urges $6.8 Trillion Climate Financing for Developing Nations

Pakistan's Prime Minister Shehbaz Sharif has called for $6.8 trillion in climate funding for developing countries by 2030. Speaking at COP29 in Azerbaijan, Sharif highlighted the dire need for climate finance and urged developed nations to honor their commitments. He also emphasized non-debt financing solutions.

Pakistan's Prime Minister Shehbaz Sharif has made a clarion call for a monumental $6.8 trillion in climate funding to be mobilized by 2030 for developing nations struggling against environmental adversities.

Addressing the COP29 conference in Azerbaijan's capital, Baku, Sharif underscored the severe impacts of climate change, stressing that developing countries lack the resources to tackle these challenges effectively. He urged developed nations to fulfill their longstanding commitments to climate funding.

Highlighting Pakistan's experience with catastrophic floods in 2022, which caused over $30 billion in damages, Sharif advocated for non-debt financing solutions. Furthermore, Pakistan pledged to pursue comprehensive climate goals, emphasizing the need for equitable and predictable financial support from developed countries.

(With inputs from agencies.)