Pakistan signs four-year pact with Global Green Growth Initiative to boost climate resilience

Secretary Climate Change & Environmental Coordination Ministry Aisha Humera Moriani (left sitting) and Deputy Director-General Global Green Growth Institute (GGCI) Helena McLeod sign the four year Country Programme Framework (2024-2028) at the Pakistan Pavilion on the sidelines of the UN-led Global Climate Conference(COP29) on November 14, 2024. (PID)
Short Url
Updated 14 November 2024
Follow

Pakistan signs four-year pact with Global Green Growth Initiative to boost climate resilience

  • The agreement will help Pakistan’s transition to a green economy, address water scarcity and deforestation
  • Pakistan has ranked as the fifth most vulnerable country to climate change, with its cities engulfed in smog

ISLAMABAD: Pakistan has signed a four-year country program framework agreement with an international green economy organization to advance its sustainable development goals by enhancing climate resilience through green growth initiatives, according to an official statement released on Thursday.
The agreement was signed by Pakistan’s Climate Change Ministry Secretary, Aisha Humera Moriani, and the Global Green Growth Initiative’s (GGGI) Deputy Director-General, Helena McLeod, during a formal ceremony at the United Nations-led Global Climate Conference (COP29) in Baku, Azerbaijan.
Pakistan ranks as the fifth most vulnerable country to climate change, according to the Global Climate Risk Index. In 2022, catastrophic floods claimed over 1,700 lives, affected more than 33 million people, and caused economic losses exceeding $30 billion.
While international donors pledged over $9 billion last January to help Pakistan recover from the devastating floods, officials report that little of the pledged amount has been disbursed so far.
“The Ministry of Climate Change & Environmental Coordination and GGGI has signed a four-year Country Programme Framework agreement to advance Pakistan’s sustainable development goals through targeted climate action and green growth interventions,” said the official statement.
On the occasion, McLeod said her organization aimed to facilitate Pakistan’s transition to a green economy through collaboration with national stakeholders to address water scarcity, deforestation and energy challenges “compounded by climate change effects.”
Prime Minister Shehbaz Sharif’s Coordinator on Climate Change Romina Khurshid Alam thanked the GGGI for engaging with Pakistan to “mobilize green finance, support climate action frameworks and promote investment” to achieve climate resilience.
Pakistan also regularly faces other climate change-induced effects such as droughts, cyclones, torrential rainstorms and heatwaves.
Currently, record-high air pollution levels have triggered hundreds of hospitalizations, school closures and stay-at-home orders in the eastern city of Lahore and other cities in the populous Punjab province, which has been enveloped in thick, toxic smog since last month.
A mix of low-grade fuel emissions from factories and vehicles, exacerbated by agricultural stubble burning, blanket Lahore and its surroundings each winter, trapped by cooler temperatures and slow-moving winds.
The city of 14 million people stuffed with factories on the border with India regularly ranks among the world’s most polluted cities, but it has hit record levels this month, as has New Delhi.
 


Pakistan hikes petrol price by Rs8 per liter for next fortnight

Updated 7 sec ago
Follow

Pakistan hikes petrol price by Rs8 per liter for next fortnight

  • Pakistan also increases price of high-speed diesel by Rs5.16 per liter, says energy ministry’s notification
  • Latest price hikes takes place amid increased tensions in Middle East following US, Israel airstrikes against Iran

KARACHI: Pakistan’s government has increased the price of petrol by Rs8 per liter for the next fortnight, the Ministry of Energy announced in a notification this week. 

The notification issued late Saturday night said the new price of petrol has increased from Rs258.17 to Rs266.17 per liter. 

Meanwhile, the new price of high-speed diesel (HSD) has also increased by Rs5.16 per liter, pushing the new price to Rs280.86 per liter. 

“The government has revised the prices of petroleum products based on recommendations of OGRA [Oil and Gas Regulatory Authority],” the notification reads. 

Fuel prices in Pakistan are reviewed fortnightly and are influenced by global oil prices, exchange rate movements and domestic taxes. The pricing mechanism passes changes in import costs on to consumers.

Pakistan’s government also increased the price of petrol by Rs5 per liter and that of HSD by Rs7.32 per liter on Feb. 15. 

The latest price hike takes place amid increased tensions in the Middle East, a day after the US and Israel launched airstrikes against Iran. 

Iran retaliated by attacking US military bases in several Gulf nations. Analysts fear the conflict could rattle global markets, particularly if Iran makes the Strait of Hormuz unsafe for commercial traffic.

A third of worldwide oil exports transported by sea passed through the strait in 2025.