KARACHI, FEB 9: Pakistan is losing close to one per cent of its GDP each year to climate-related damages, speakers revealed on Monday at the 4th Pakistan Climate Conference, as government leaders, development partners and business executives urged an accelerated shift from policy frameworks to bankable climate action.
Organised by the Overseas Investors Chamber of Commerce & Industry (OICCI), the Conference brought together federal and provincial policymakers, international institutions, climate experts, journalists, and corporate leaders to address Pakistan’s mounting exposure to floods, heatwaves and economic disruption despite contributing less than one per cent to global emissions.
Federal Minister for Climate Change and Environmental Coordination Dr Musadik Masood Malik said Pakistan was on the frontline of a rapidly intensifying crisis. “I commend OICCI for creating a platform where climate resilience is treated not as CSR, but as an economic imperative. From record 53°C heatwaves to floods that displaced four million people last year, with over 13,000 glaciers melting and climate losses costing nearly one per cent of GDP annually, this is an existential challenge,” he said.
Referring to Pakistan’s updated climate commitments, Dr Malik said the country’s NDC 3.0 targets a 50pc emissions reduction by 2035, but achieving a just transition would require $565.7 billion in investment, calling for climate finance that is sustainable, grant-based and rooted in climate justice.
Addressing the participants, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb described climate change as an existential threat, stressing that while key frameworks including the National Adaptation Plan, Climate Prosperity Plan and Green Taxonomy were in place, the focus must now shift to mobilising available financing and developing investable projects. He highlighted the private sector’s role in providing not just capital, but innovation and technical expertise.
Speaking at the Conference, Regional Lead, Sustainable Finance, Asia and Pacific at United Nations Development Programme (UNDP), Chongguang Yu (Charles) said the core challenge was no longer capital availability but fragmented systems, advocating blended finance, risk-sharing mechanisms and programmatic investment pipelines to unlock scalable private-sector participation.
President OICCI Yousaf Hussain said the Government of Pakistan was making tangible progress on its climate agenda. He noted that from emphasising adaptation finance through public–private partnerships at the World Economic Forum in Davos to finalising the $20 billion, 10-year Country Partnership Framework with the World Bank, and preparing for the launch of Pakistan’s first Green Panda Bond, the steps reflected growing momentum on sustainable finance. “Together, these steps signal a clear and credible national commitment to climate resilience.”
Meanwhile, Senior Vice President OICCI Jason Avanceña said the Conference was designed to move beyond rhetoric towards practical economic outcomes. “Building on the momentum from COP30, our discussions focused on translating climate commitments into economic outcomes, from modernising Pakistan’s strained power grid and accelerating renewable energy to unlocking Blue Economy opportunities through coastal resilience and marine sustainability, while leveraging artificial intelligence to improve climate forecasting, reduce disaster losses, and strengthen investment planning,” said Jason.
Rehan Shaikh, CEO & Head of Coverage, Standard Chartered Pakistan stated, “For Pakistan, building resilience, mobilising sustainable finance and strengthening public-private collaboration is critical to unlocking long-term competitiveness. This is why Standard Chartered Pakistan’s support for platforms like the OICCI Climate Conference play an important role in moving this agenda from intent to action.”
The event was attended by local and international speakers from UNDP, Asia Development Bank, International Finance Corporation, World Wildlife Fund Pakistan, State Bank of Pakistan, Securities Exchange Commission of Pakistan, Pakistan Stock Exchange, Environmental Protection Agency Punjab, Sindh Solid Waste Management Board, Sindh Environmental Protection Agency, Sustainable Development Policy Institute, and leading corporates including Unilever, Nestlé, Standard Chartered Bank and Beko Global.
The Conference concluded with the 2nd OICCI Climate Excellence Awards, recognising organisations advancing renewable energy, circularity, water stewardship and inclusive climate action.
- Climate Excellence (Main Award): Nestlé Pakistan
- Climate Action: Award: Dawlance; Runner-Up: Unilever; Small Companies: Loreal Pakistan
- Water Stewardship: Award: Pakistan Tobacco Company; Runner-Up: Reckitt; Small Companies: Lotte Chemicals
- Renewable Energy & Conservation: Award: Atlas Honda Ltd. and Martin Dow Group; Runner-Up: Metro; Small Companies: KSB Pumps
- Circular Economy: Award: PepsiCo Pakistan; Runner-Up: TetraPak; Small Companies: Engro Powergen Thar
- Supporting Biodiversity: Award: Attock Refinery Ltd.; Runner-Up: Engro Polymer; Small Companies: Engro Vopak
- Sustainable Finance: Award: Mobilink Microfinance Bank; Runner-Up: Bank Alfalah; Small Companies: (None)
As climate risks escalate, speakers agreed that climate policy can no longer sit at the margins, it must now drive Pakistan’s economic planning, investment strategy and national development agenda.
