ISLAMABAD, Jun 11 (APP):Ministry of Climate Change & Environmental Coordination (MoCC&EC) had launched federal and provincial Nationally Determined Contributions (NDCs), implementing plans to bolster the environment by establishing policies, regulations, and institutional frameworks to tackle challenges and barriers.
According to Economic Survey 2023-24, launched here by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, Pakistan’s updated NDCs target a 50 percent reduction in the country’s projected greenhouse gas emissions by 2030.
This target was based on financing a 15 percent reduction below the business as usual (BAU) levels through domestic resources while reducing an additional 35 percent subject to the provision of international grant finance that would require USD 101 billion just for the energy transition.
They also aim to pinpoint potential funding sources and develop Monitoring, Reporting, and Verification (MRV) mechanism across all economic sectors to ensure NDC implementation.
Moreover, efforts are underway to devise a financial investment plan and raise stakeholder awareness regarding the necessary actions to achieve NDC targets. Pakistan’s Living Indus Initiative, was bestowed the title of World Restoration Flagship by the United Nations.
Selected from 150 applicants and supported by over 70 governments, its efforts to restore the Indus River basin have garnered global recognition.
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