ISLAMABAD: Prime Minister Shehbaz Sharif on Friday called for the establishment of low-emission corridors and a regional carbon market to mobilize climate finance across member states of the Economic Cooperation Organization (ECO), warning that climate change was threatening food security and livelihoods of millions in the region.
Addressing the 17th ECO Summit in Khankendi, Azerbaijan, the Pakistani prime minister highlighted the devastating impacts of climate change and urged regional cooperation to mitigate these risks.
The summit focused on trade, sustainable development and enhanced regional connectivity.
“Like the rest of the world, ECO member states are facing far-reaching impacts of climate change, from melting glaciers, desertification, extreme heat waves, devastating floods and declining agricultural productivity,” Sharif said in his speech. “These challenges threaten the food security and livelihoods of millions of our people. Pakistan remains among the top 10 countries that are most vulnerable to climate change.”
“Pakistan proposes the development of low-emission corridors, an ECO-wide carbon market platform and regional disaster resilience systems,” he continued. “A dedicated framework to mobilize climate finance along with regional clean energy corridors and eco-tourism initiatives can further drive inclusive, sustainable growth, creating green jobs, especially for youth and women and supporting livelihoods in vulnerable regions.”
The prime minister cited the catastrophic 2022 floods in Pakistan as a grim example of climate vulnerability, recalling that over 33 million people were affected, with widespread damage to lives, livelihoods and infrastructure.
He also referenced recent flash floods during the current monsoon season that have claimed over 60 lives, noting that climate-induced disasters now pose an existential challenge for many ECO countries.
TRADE, TOURISM, CONNECTIVITY
The prime minister also urged ECO member states to expedite the implementation of the ECO Trade Agreement, originally envisioned as a cornerstone of regional integration under the ECO Vision 2025.
“Promotion of trade and investment holds the key to securing our common goals for strengthening regional connectivity,” he said, citing the need to activate transport corridors, ensure energy security and foster intra-regional tourism and economic growth.
While the agreement was reached during the 13th ECO Summit in Islamabad in 2017, it is yet to be operationalized.
Sharif called for renewed efforts to build on the region’s shared heritage and historic Silk Road synergies.
“As members of the ECO family, sharing strong commonalities of history and geography, of faith and culture, we have a firm basis for lasting cooperative relationships,” he added. “Let us … channel our collective energies toward a future that guarantees our people’s life of peace, progress and prosperity.”
