Islamabad:
The Federal Government and the Asian Development Bank (AfDB) agreed to strengthen collaboration on climate resilience and environmental sustainability during high -level interviews in Islamabad on Monday.
The Federal Minister for Climate Change and Environmental Coordination, Dr. Musadik Malik and the Director General of BAD, Bruno Carrasco, has led discussions on a complete strategy to meet the pressing climatic challenges of Pakistan.
The two parties underlined the need for urgent action, with a particular emphasis on support for climatic initiatives led by young people through incubation programs, mentoring and financing opportunities.
The partnership aims to allow young innovators to develop evolutionary solutions while positioning Pakistan competitively in the global green economy.
The meeting explored the tracks for increased climate funding, with plans to mobilize investments for sustainable development projects.
Carbon credit markets have also appeared in discussions, both parties agreeing to explore mechanisms for monetizing emission reductions and improvement in environmental performance.
Malik stressed the importance of moving from policies planning to implementation, ensuring the BAD of the total commitment of Pakistan to obtain concrete results. “We have to make sure that our strategies result in a real impact,” he said.
The BAD delegation reaffirmed its support for the Pakistan climate program, highlighting knowledge sharing opportunities, loans based on capacity policies and programs to strengthen institutional responses to climate change.
