In Pakistan, we are no longer facing the distant threat of climate change, but rather the harsh reality that demands immediate action. The World Bank estimates that an astounding $348 billion is required from 2023 to 2030 for adaptation, resilience and decarbonisation. This surpasses our traditional annual development budgets. Private sector financing holds the key to filling these gaps, providing sustainable funding for both green initiatives and transition needs. Governments, businesses, and international stakeholders must unite to mobilise resources on a scale that matches the magnitude of the challenge.

The OICCI represents over 200 multinational investors spanning across 14 sectors. These organisations offer an opportunity to attract new investors and advocate for global grants and foreign direct investment in climate-positive initiatives. The OICCI has been working towards fostering collaboration between the public and private sectors to tackle climate challenges head-on. We will be hosting a multi-stakeholder dialogue with the Ministry of Climate Change within the Blue Zone at COP28 on Dec 9 to discuss strategic approaches for businesses to transition to a green economy. (more)