It comes as the UK High Commissioner’s # 26For26 campaign continues to meet its goal of having 26 Pakistani companies commit to halving their emissions by 2030 and reaching net zero by 2050. So far, 28 companies have registered.
COP26 is the largest international event of its kind ever held in the UK with over 25,000 delegates arriving in the city of Glasgow, including leading world leaders, opinion makers and businesses. It will work to prevent global temperatures from exceeding 1.5 ° C and to protect our planet and our people from the impacts of climate change.
The UK has already achieved notable successes so far. About 70% of the global economy is now covered by net zero targets, compared to less than 30% when the UK took over the presidency of COP26. This will help the most vulnerable countries like Pakistan.
Pakistan is the 8th most vulnerable country in the world to climate change. Some experts have warned that Karachi could be completely submerged by 2060 if the current trajectory of sea level rise continues. Temperatures in Karachi this year have already been the hottest in 74 years and by 2030 property damage from coastal storm surges and sea level rise is expected to increase tenfold. By 2100, rising temperatures mean that 36% of the glaciers along the Hindu Kush and Himalayan ranges will be gone. The critical situation means that Pakistan must act now, alongside the rest of the international community.
The UK is already working closely with Pakistan on climate change and will provide £ 7million in grants and technical support this year to help Pakistan meet its climate change targets. Earlier this year, the UK launched a new program in Lahore to promote cleaner brick production practices that will help improve air quality, reduce smog and fight climate change.
Pakistan’s leadership on certain environmental issues has been recognized globally. The British Prime Minister hailed the tsunami of 10 billion trees in the country during the United Nations General Assembly last month. Earlier this week, HRH the Prince of Wales met with Pakistani Prime Minister Imran Khan and agreed on the need for greater global cooperation on climate change and environmental protection. His Royal Highness The Prince of Wales congratulated Prime Minister Imran Khan on the 10 billion tree tsunami initiative.
Climate finance will be at the heart of COP26. To support the transition to net zero and climate resilient economies, it is crucial to mobilize public and private finance, especially for emerging markets and developing economies. Under the British presidencies of COP26 and the G7, we have seen clear progress towards this goal. G7 countries have committed new finance to meet the target of $ 100 billion in climate finance, including more finance for adaptation.
In terms of mobilizing international finance, the UK is committing funds to help Pakistan develop innovative climate finance instruments, including nature performance bonds. The UK will invest more in Pakistan over the next 5 years, helping communities adapt to climate change and improve resilience at the community level and supporting the efficient use of water resources.
As host of COP26 (co-hosted with Italy), the UK has led international action and support to adapt to the effects of climate change, which are already impacting lives, livelihoods and natural habitats around the world. Thirty-five countries have joined the Adaptation Action Coalition, and over 2,000 businesses, investors, regions, cities and other non-state actors have joined the Race to Resilience. More than 40 countries and organizations have joined the Risk-informed Early Action Partnership, pledging to protect 1 billion people from disasters by 2025.
By signing up to Race to Zero, more than 3,000 companies and 170 investors have pledged to halve their emissions by 2030 and achieve net zero emissions by 2050 at the latest, with action plans transparent and solid. Under Britain’s G7 presidency, the first net-zero G7 saw all countries commit to major emission reduction targets in the 2020s and end funding for fossil fuels and coal-fired electricity. This year.
The UK has led the way and shown that green growth is possible – over the past 30 years our economy has grown by 78% while reducing emissions by 44%. The UK was the first country to pledge to reduce carbon emissions by 78% by 2035 and is on track to be the fastest G7 country to decarbonise cars and vans by 2030.
As part of the brickyard program launched earlier this year, the UK will support a targeted training program on ‘Zig Zag’ technology for the brick industry to replace coal and reduce emissions. This program will be implemented in collaboration with the government of Punjab, the Pakistan Brick Kiln Owners Association (BKAOP) and the International Center for Integrated Mountain Development (ICIMOD).
In 2015, the National Institute of Oceanography warned that Karachi could be completely submerged by 2060 if the current trajectory of sea level rise continues.
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