SBP for building resilience against climate change

Governor says rising temperature impacting agricultural output

ISLAMABAD:

State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday underlined the urgent need for creating required resilience against negative impacts of climate change to protect humans, agriculture and livestock, besides uplifting regional economies to address the vulnerabilities faced by them.

Addressing the Saarc Finance Symposium, the governor pointed out that Pakistan featured among the top 10 countries most affected by climate change-related disasters, though its share in greenhouse gas emissions was less than 1%.

The meeting titled “Climate Change and Green Financing: Initiatives & Outlook in South Asia” was organised by the SBP and attended by heads of central banks of the region, representatives of Asian Development Bank (ADB) and International Finance Corporation (IFC).

The central bank governor called climate change and environmental protection global issues, which were posing serious threats to economies of the world, adding that rising temperature caused by rapid industrialisation was negatively impacting the agricultural output.

He was of the view that South Asia was the most vulnerable to climate change as more than half of the region had been affected by the changing weather patterns. “A holistic approach is needed to overcome such negative impacts.”

Published in The Express Tribune, May 4^th, 2023.

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