AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Islamabad, Oct 9: Senator Sherry Rehman, chairing a meeting of the Senate Standing Committee on Climate Change, has called for the introduction of Internationally Determined Contributions (IDCs) as a global accountability measure ahead of the 29th Conference of the Parties (COP 29).

The meeting focused on the progress of Pakistan's Nationally Determined Contributions (NDCs) and the review of the Pakistan Trade Control of Wild Fauna and Flora (Amendment) Bill, 2024.

The meeting was attended by several senators, including Senator Shahadat Awan, Senator Shahzeb Durrani, Senator Bushra Anjum Butt, and others, along with representatives from the Ministry of Climate Change.

Senator Rehman stressed the need for stronger international collaboration, criticising the slow progress of global climate action despite decades of climate conferences.

"Pakistan, contributing less than 1% to global emissions, is one of the most affected by climate change. While we uphold our commitments to energy transition, the international community must step up and finance small emitters’ capacities to address the accelerating crisis," Senator Rehman stated.

Rehman emphasised that despite setting ambitious targets, global emissions continue to rise, pushing the world beyond the 1.5°C temperature limit agreed upon in the Paris Agreement. She pointed out the financial burden on countries like Pakistan, which requires $348 billion by 2030 to meet sustainability goals.

She also highlighted the persistent financial support flowing to fossil fuel industries, amounting to $7 trillion, which undermines efforts to reduce global warming. Citing Indonesia’s $20 million aid under the Just Energy Transition Partnership (JETP), she urged the international community to extend similar support to Pakistan as it works toward renewable energy, noting that one-third of the country’s current energy capacity is now met through solar power.

Additionally, Senator Rehman emphasised the importance of innovative solutions such as carbon credits and sequestration to boost Pakistan’s sustainability efforts, stressing the need to scale up solar initiatives.

On the legislative front, the committee reviewed the Pakistan Trade Control of Wild Fauna and Flora (Amendment) Bill, 2024, raising concerns about the existing regulatory framework for invasive species. Senator Rehman proposed key amendments, including a focus on regulating imports of invasive species instead of exports, to better protect Pakistan's ecosystem. The committee, unanimously, agreed on revisions to strengthen the bill.

In closing, Senator Rehman demanded a long-delayed water quality report for Rawal Dam, directing authorities to present a comprehensive analysis of the water's safety at the next meeting.

Copyright Business Recorder, 2024

Comments

Comments are closed.