Pakistan is losing close to one per cent of its GDP each year to climate-related damages, speakers revealed on Monday at the 4th Pakistan Climate Conference. Government leaders, development partners and business executives urged an accelerated shift from policy frameworks to bankable climate action.
Organised by the Overseas Investors Chamber of Commerce & Industry (OICCI), the Conference brought together federal and provincial policymakers, international institutions, climate experts, journalists, and corporate leaders to address Pakistan’s mounting exposure to floods, heatwaves and economic disruption despite contributing less than one per cent to global emissions.
Federal Minister for Climate Change and Environmental Coordination Dr Musadik Masood Malik said Pakistan was on the frontline of a rapidly intensifying crisis. “I commend OICCI for creating a platform where climate resilience is treated not as CSR, but as an economic imperative. From record 53°C heatwaves to floods that displaced four million people last year with over 13,000 glaciers melting and climate losses costing nearly one per cent of GDP annually, this is an existential challenge,” he said.
Dr Malik referred to Pakistan’s updated climate commitments, which target a 50% emissions reduction by 2035. However, achieving a just transition would require $565.7 billion in investment, calling for sustainable and grant-based climate finance rooted in justice.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb described climate change as an existential threat. While key frameworks such as the National Adaptation Plan, Climate Prosperity Plan, and Green Taxonomy were in place, focus must now shift to mobilising available financing and developing investable projects. He highlighted the private sector’s role in providing not just capital, but innovation and technical expertise.
Regional Lead for Sustainable Finance at UNDP Chongguang Yu (Charles) said no longer was it a matter of having enough capital; rather, fragmented systems were hindering progress. Advocating blended finance, risk-sharing mechanisms, and programmatic investment pipelines to unlock scalable private-sector participation, he emphasized the need for sustainable climate finance.
President OICCI Yousaf Hussain noted tangible progress on Pakistan’s climate agenda. “From emphasizing adaptation finance through public-private partnerships at the World Economic Forum in Davos to finalizing a $20 billion, 10-year Country Partnership Framework with the World Bank, and preparing for the launch of Pakistan’s first Green Panda Bond, these steps reflect growing momentum,” he said.
Senior Vice President OICCI Jason Avanceña highlighted the Conference’s goal: moving beyond rhetoric towards practical economic outcomes. Discussions focused on translating climate commitments into economic outcomes, from modernizing Pakistan’s strained power grid to accelerating renewable energy and unlocking opportunities through coastal resilience and marine sustainability while leveraging artificial intelligence for improved climate forecasting, disaster reduction, and investment planning.
Rehan Shaikh, CEO & Head of Coverage at Standard Chartered Pakistan, stated: “For Pakistan, building resilience, mobilising sustainable finance, and strengthening public-private collaboration is critical to unlocking long-term competitiveness. This underscores the role that platforms like OICCI’s Climate Conference play in moving this agenda from intent to action.”
Local and international speakers from UNDP, Asian Development Bank, International Finance Corporation, World Wildlife Fund Pakistan, State Bank of Pakistan, Securities Exchange Commission of Pakistan, Pakistan Stock Exchange, Environmental Protection Agency Punjab, Sindh Solid Waste Management Board, Sindh Environmental Protection Agency, Sustainable Development Policy Institute, and leading corporates including Unilever, Nestlé, Standard Chartered Bank, Beko Global attended the Conference.
The 2nd OICCI Climate Excellence Awards were held at the conclusion of the event. Nestlé Pakistan won the Climate Excellence (Main Award); Dawlance and Unilever received the Climate Action award with Reckitt as a Runner-Up; PepsiCo Pakistan took the Water Stewardship award, while Metro and TetraPak claimed the Renewable Energy & Conservation category with small companies such as Lotte Chemicals and Engro Powergen Thar in their respective categories.