New York (Web Desk): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Friday stressed the need for translating climate commitments into tangible projects that can produce measurable results and directly benefit communities.
The finance minister made the remarks in New York while taking part in the Climate Implementation Bridge (BRIDGE) event.
He is currently in the city as a member of Prime Minister Shehbaz Sharif’s high-level delegation attending the 81st Session of the United Nations General Assembly.
According to the Finance Ministry, the event was part of his engagements on the fourth day of the UNGA High-Level Week.
Aurangzeb said effective climate action depended on three major areas: a reliable policy framework, adequate financial resources and the institutional capacity required to execute projects at the national level.
He said Pakistan had been working to further develop its climate policies while exploring multiple avenues to secure funding.
These included domestic resources, international financial institutions, capital markets and specialized climate finance mechanisms.
The minister also drew attention to persistent challenges, particularly fragmented institutions and the shortage of projects that were sufficiently developed to attract investment or secure financing.
Referring to the severe floods that struck Pakistan in 2022, Aurangzeb said some international assistance had not been utilized despite substantial commitments from development partners.
He said this experience demonstrated the importance of preparing viable projects and improving implementation capabilities within the country.
Welcoming Pakistan’s participation in the BRIDGE initiative, the finance minister called for greater agreement among partners on practical “no-regret” measures.
The finance minister said such steps could help move the initiative beyond discussions and towards meaningful implementation.
Aurangzeb further stressed that climate commitments should ultimately result in clearly defined projects and measurable outcomes, ensuring that climate action translates into real and visible benefits for people.
The finance minister’s engagements during the UNGA High-Level Week have continued to focus on Pakistan’s efforts to strengthen climate resilience, attract financial resources for climate initiatives and develop international partnerships aimed at improving implementation on the ground.