From Grey Zones to Green Solutions Senator Sherry Rehman Champions Urgent Climate Action at ISSI and Hanns Seidel Conference

Senator Rehman recognized the critical role played by the Hanns Seidel Foundation in Pakistan, particularly in addressing pivotal issues, including climate change.

she warned that while the country remains on the frontlines of climate impacts, it is far from prepared for the future’s uncertainties.

Islamabad, 26th September 2024 By Imtiaz Ali Abbasi

 The Institute of Strategic Studies Islamabad (ISSI), in collaboration with the Hanns Seidel Foundation (HSF), hosted a high-level international conference today, titled “Navigating Pakistan’s Climate Action Path: Adaptation, Finance, and Technology.” Senator Sherry Rehman was the Chief Guest, delivering a thought-provoking keynote speech that called for accelerating the urgency of climate action for Pakistan.

In her address, Senator Rehman recognized the critical role played by the Hanns Seidel Foundation in Pakistan, particularly in addressing pivotal issues, including climate change. Highlighting the collaborative potential for countries, she appreciated Ambassador Azerbaijan’s remarks on renewable energy, acknowledging the shared global challenges.

Senator Rehman stressed that the upcoming COP 29 must be remembered as the “Finance COP,” where the central focus would be on mobilizing substantial climate finance for vulnerable nations like Pakistan. "We have serious challenges, from biodiversity loss to water scarcity,” she emphasized. "Whatever we do in one country or one ecosystem impacts others. This is a message that needs to resonate globally. Despite contributing less than 1% in global emissions, Pakistan is the 5th most impacted country by climate change.”

Pointing to Pakistan’s climate vulnerability, she warned that while the country remains on the frontlines of climate impacts, it is far from prepared for the future’s uncertainties. “For the last four years, we’ve endured one of the hottest summers on record. Globally, people are shocked by the heat stress we face, especially how it affects water and agriculture.”

Senator Rehman criticized the global response to climate challenges, stating, “The Summit of the Future at the UN this year fell short in addressing real climate issues. Peace and security must be linked to climate. For countries like Pakistan, Africa, and small island states, the clock is ticking counterintuitively. We cannot afford to just focus on 2050; we need action now.”

Senator Rehman unpacked the need for improving Pakistan's climate reporting capacity, expressing concern about the inefficiencies in current reporting processes. “We need to focus on critical reporting required on emissions and sequestration. Effective reporting is key to accessing climate finance.”

Turning her attention to the issue of global climate finance, Senator Rehman called for accelerated implementation of the Loss and Damage Fund established at COP 27. She remarked that while there’s much talk about finance being the key to transformative change, progress has been sluggish. “We cannot remain in the grey zone of bumper stickers. We need real, strategic action at the local, global, and civil society levels.”

She emphasized the importance of youth engagement in the climate discourse, adding, “Real transformation begins with the next generation.”

Highlighting the stark disparity in global emissions and climate justice, Senator Rehman cited recent data, stating that “The richest countries could generate $5 trillion annually through windfall taxes on fossil fuels and removing subsidies given to them.” She further asserted “Global banks spends $7 trillion to fund fossil fuel industries, which is 7% of the global GDP and double the number spend on education globally, but struggles to fund climate resilience efforts.”

She concluded her speech by addressing the urgent need for scaling up finance for countries like Pakistan. “How will Pakistan get the $348 billion required for adaptation and mitigation by 2030? This is 10.7% of our GDP. Public finance is scarce; we must engage the private sector.”

She praised initiatives like the Sindh government's World Bank-funded “Sindh Solar Energy Project for Pakistan” to provide 200,000 solar home systems to low-income households, highlighting the need for a robust regulatory framework to encourage similar renewable energy investments. “Public finance isn’t sufficient; we need to galvanize the private sector. Our NDCs 2.0 are on par with Australia’s, but we must work within our local context,” she said.

The event brought together policymakers, climate experts, and international stakeholders to discuss the multifaceted approach needed to navigate Pakistan’s climate challenges, focusing on adaptation, finance, and technology.