The Overseas Investors Chamber of Commerce and Industry (OICCI) has released its report on the third Pakistan Climate Conference (PCC), stating that Pakistan, which bears the brunt of climate change despite minimal contribution to greenhouse gas emissions, urgently requires substantial financial assistance to cope with escalating climate disasters. The country, ranking high on the 2025 Global Climate Risk Index, suffered over $30 billion in losses from climate catastrophes in 2022 alone, requiring over $16.3 billion for rehabilitation.
The OICCI report emphasizes the crucial role of private investment in enhancing climate resilience and advocates for large-scale climate funding. Aisha Hamira Chudhary, Secretary of the Ministry of Climate Change and Environmental Coordination (MoCC and E), acknowledged Pakistan’s internationally recognized climate vulnerabilities and stressed the need for rapid and extensive financial support. She highlighted the key contribution of the private sector, particularly OICCI members, in the National Climate Strategy. She also appealed to global allies for robust backing of Pakistan’s climate initiatives.
The report highlights the economic consequences of inaction, warning that Pakistani goods may face barriers under new international trade regulations, especially the European Union’s Carbon Border Adjustment Mechanism (CBAM), if emissions aren’t swiftly reduced. M. Abdul Aleem, Secretary General of OICCI, emphasized the risks to Pakistan’s exports due to reliance on carbon-intensive energy and practices. He stressed that emission reductions and green financing are essential for economic stability and international competitiveness.
Dr. Abid Qaiyum Suleri, Executive Director of SDPI, advocated for joint policy and funding systems, arguing that market-driven approaches and private sector involvement are essential, especially considering the constraints of public and grant-based funding. He declared climate disasters not a future possibility but a current socio-economic emergency.
Experts estimate that Pakistan needs $40-50 billion annually to effectively address climate risks, including air pollution which causes over 128,000 premature deaths annually, and climate change-induced agricultural yield reductions of 10-20%. The country requires an eco-friendly framework that incentivizes private investment in climate resilience, supported by reliable policies, open data, and readily available financial instruments.
Ella Majid, President of ACCA, emphasized the importance of expertise and financial acumen in climate action. She stressed that climate funding involves not merely securing resources but ensuring their productive use with accountability, technical proficiency, and measurable outcomes.
The PCC report outlines practical actions, including sustainable agriculture, industrial decarbonization, plastic recycling, and carbon market development. It emphasizes the need to couple climate finance with policy support and capacity building to address Pakistan’s climate finance gap.
OICCI, the only private sector body from Pakistan participating in COP28 and COP29, continues advocating public-private collaboration for climate action and is partnering with regulatory bodies like the State Bank of Pakistan and SECP to develop green classification and reporting frameworks.