Pakistan is demanding a new approach to global climate resilience financing, with Prime Minister Shehbaz Sharif using the COP31 summit in Antalya to argue that the current model is pushing vulnerable nations toward an impossible debt trap.
On Wednesday, Sharif pressed global leaders for grant-based financing and increased adaptation funds, warning that the financial burden of climate-driven disasters cannot be borne by those with the smallest carbon footprints.
The stakes for Islamabad are stark. While the country contributes less than 1% of global greenhouse gas emissions, it remains among the world’s 10 most climate-vulnerable nations, The Express Tribune reported.
The 2022 super-floods submerged a third of the country, impacting 33 million people and inflicting over $30 billion in economic damage. With more than 60% of national revenues currently consumed by debt servicing, experts argue that self-financing the $565 billion needed for climate commitments by 2035 is not a viable path.
Delighted to meet my dear brother, President @RTErdogan , on the sidelines of the COP31 Leaders Summit in Antalya. I thanked him for Türkiye's warm and generous hospitality. We reaffirmed the deep-rooted, historic and brotherly bonds between Pakistan and Türkiye, and agreed to… pic.twitter.com/0ZEHuObcY5
“When climate disasters strike, vulnerable countries need timely help and finance that does not deepen their debt,” Sharif told the COP31 Leaders Summit, according to Arab News PK. The Prime Minister underscored that national climate efforts cannot replace a fair international response, particularly as the Loss and Damage Fund remains significantly under-resourced, with only $342 million available against $2.8 billion in global requests.
Transitioning to a Clean Energy Economy
Beyond the immediate need for financial relief, Islamabad is signaling a pivot toward domestic clean energy to reduce its long-term vulnerability. During a high-level meeting on the sidelines of COP31, Sharif reported that clean energy sources now account for nearly 55% of the national energy mix. According to Anadolu Ajansı, the government has added 22 gigawatts of rooftop solar capacity over the last two years and is targeting 30% electric vehicle adoption by 2030.
Alhamdulillah, PM @CMShehbaz concludes a successful visit to Türkiye. At the COP31 Antalya Leaders' Summit, he gave voice to millions in the developing world who contribute least to climate change yet suffer most, showcased Pakistan's clean energy leadership, and made clear that… pic.twitter.com/skSqNGZ8TP
This transition remains capital-intensive. Sharif said that Pakistan requires approximately $138 billion for low-carbon power generation and another $50 billion to transition from coal to solar by 2035.
Climate expert Javed Ali Khan said that the international community has failed to provide adequate compensation for these hazards, suggesting that previous frameworks like the Kyoto Protocol—which required developing countries to allocate 1% of GDP to climate funding—were scrapped by developed nations to avoid payment obligations, Radio Pakistan reported.
Strengthening the Mecca Defence Alliance
The climate agenda in Antalya coincided with high-level diplomatic discussions between Pakistan and Türkiye. On the sidelines of the summit, President Recep Tayyip Erdogan received Prime Minister Sharif to discuss bilateral ties and the expansion of the Mecca Defence Alliance, which also includes Saudi Arabia. The pact, which formally established a secretariat in Istanbul on August 31, is designed to bolster regional security and deterrence.
The Path to Climate Justice
As the summit continues, the contrast between the $30 billion in losses from the 2022 floods and the minimal allocation from global funds remains a point of friction for Islamabad. “Let us resolve to power our economies without impoverishing our people and light up our homes without darkening our planet,” Sharif said during his address.
For Pakistan, the strategy involves building a “mountain coalition” with nations like Nepal, Bhutan, Tajikistan and Kyrgyzstan to elevate the issue of glacier monitoring and early-warning systems.
Prime Minister Muhammad Shehbaz Sharif held a bilateral meeting with His Highness Ahmad Al-Abdullah Al-Ahmad Al-Sabah, Prime Minister of Kuwait, in Antalya on the side-lines of the 31st United Nations Climate Change Conference (COP31). During the meeting, the two leaders… pic.twitter.com/WbDCL6gp67
