PESHAWAR: The Government of Khyber Pakhtunkhwa showcased its climate resilience strategies and ambitious plans to harness carbon markets at a high-profile side event at COP29, held at the Pakistan Pavilion in Baku, Azerbaijan.
The event brought together leading policymakers, climate finance experts, and international development partners to discuss Khyber Pakhtunkhwa province’s unique challenges and opportunities in addressing climate change, said a press release issued here.
The event commenced with a detailed presentation by Additional Chief Secretary Khyber Pakhtunkhwa Ikramullah Khan, who highlighted province’s acute climate vulnerabilities, including the increasing frequency of floods, landslides, and deforestation impacts. Despite these challenges, he emphasized the immense potential of the province to lead the way in carbon sequestration through innovative projects.
The presentation underscored Khyber Pakhtunkhwa’s natural resources and its strategic focus on developing a climate finance pipeline to tap into global carbon markets.
Junaid Dyar, the Project Director for the Billion Tree Tsunami project, provided an overview of afforestation initiatives of the province. He outlined the project’s significant achievements in restoring degraded ecosystems, enhancing biodiversity, and creating opportunities for generating carbon credits.
The event also included a high-profile panel discussion. The panel discussion was moderated by Hasaan Khawar, the Team Leader for the FCDO-funded SEED Programme, which is supporting Khyber Pakhtunkhwa in developing a climate finance transactions pipeline. Shahid Zaman, Secretary Forest and Climate Change to Khyber Pakhtunkhwa Government elaborated how the province is planning to use its wide forest base to tap into the carbon markets.
Nick Haslam, an international climate finance expert, outlined strategies for Khyber Pakhtunkhwa to secure global climate financing by building institutional capacity and engaging the private sector.
Kashmali Khan, representing Adam Smith International, highlighted the importance of international collaborations and knowledge-sharing to drive innovation in climate initiatives.
Muzammil Aslam, Finance Advisor Finance to Chief Minister Khyber Pakhtunkhwa, emphasized the economic potential of climate initiatives, noting that the Ten Billion Tree Tsunami project is expected to generate 10 million jobs across Pakistan, with Khyber Pakhtunkhwa Province playing a pivotal role in this achievement. He also highlighted Province’s success in leveraging public-private partnerships (PPPs) to implement renewable energy projects, eco-tourism zones, and afforestation programs and emphasized that Khyber Pakhtunkhwa will be co-investing with any interested international investor.
MNA Faisal Amin Khan, the Climate Change Lead at the Chief Minister Khyber Pakhtunkhwa’s Office, gave concluding remarks and dedicated the event to the forest workers who lost their lives while fighting forest fires. He acknowledged their sacrifices as a testament to Khyber Pakhtunkhwa’s commitment to environmental conservation. He reaffirmed the government’s dedication to climate resilience, announcing that next year Khyber Pakhtunkhwa will present the results of the Ten Billion Tree Tsunami project.
Copyright Business Recorder, 2024
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