PM pushes for enhanced climate financing

Calls for $138b investment to transform energy sector Pezeshkian reaffirms close ties with Pakistan Pakistan, Ku

ANTALYA:

Prime Minister Shehbaz Sharif on Wednesday reaffirmed Pakistan's commitment to a sustainable energy future, setting ambitious targets for clean energy transition and calling for enhanced international financing and affordable technology to help developing countries meet their climate commitments.

Addressing a high-level session titled "Clean Energy Transition by 2035: Powering the Future" on the sidelines of the 31st United Nations Climate Change Conference (COP31) here, the prime minister outlined Pakistan's ambitious roadmap for transitioning towards clean energy and called for enhanced international financing and affordable technology to achieve climate goals.

The prime minister, amid highlighting the country's progress, said clean energy sources now accounted for nearly 55 per cent of Pakistan's energy mix. He informed the gathering that, before travelling to Antalya, he had inaugurated a key section of Pakistan's seventh nuclear power plant, a state-of-the-art project that would add 1,200 megawatts of clean electricity to the national grid.

Outlining his vision for a cleaner transport sector, the prime minister said the recently launched auto policy envisaged making 30 per cent of new vehicles electric by 2030, supported by incentives, including lower tariffs.

He added that all future government buses and motorcycles would be electric, noting that, for the first time, more than one in every 10 motorcycles sold in Pakistan this year was electric.

The prime minister said the transition towards clean energy was gaining momentum, but stressed that sustained financing was essential to achieve the desired targets.

He pointed out that Pakistan required approximately $138 billion by 2035 for low-carbon power generation, in addition to another $50 billion to replace coal-based power with solar energy.

Emphasising the financial constraints confronting developing countries, he said expanding power grids, ensuring reliable energy storage and making emerging technologies affordable required substantial investment, a burden that heavily indebted economies could not shoulder alone.

He called for international partners to ensure the flow of concessional financing and facilitate the transfer of affordable technologies, stressing that the ambitious clean energy targets could only be achieved through collective efforts and timely financial support.

"35 by 35 will be achieved only if finance flows at the speed of ambition through concessional capital and the transfer of affordable technology," the prime minister said.

He urged the international community to pursue a development model that balanced economic growth with environmental protection, emphasising that countries must be able to power their economies and meet people's energy needs without undermining the planet.

"Let us resolve to power our economies without impoverishing our people and light up our homes without darkening our planet," he said, stressing that the promise of clean energy transition must be delivered through collective commitment and action.

The prime minister reiterated that Pakistan was determined to advance its clean energy agenda and contribute to global efforts for sustainable development and climate resilience.

 

Iran president

Prime Minister Shehbaz Sharif and Iranian President Dr Masoud Pezeshkian, Wednesday, reaffirmed the close and longstanding ties between Pakistan and Iran and underscored the need to further strengthen bilateral relations across all areas of mutual cooperation.

Both leaders also exchanged views on the evolving regional situation.

The prime minister met with the Iranian president on the sidelines of the Leaders' Summit of UNFCCC COP31 Session currently taking place in Antalya, Turkiye, PM Office Media Wing said in a press release.

Sharif expressed deep concern over the prolonged conflict and emphasized the need for dialogue, restraint, de-escalation, and sustained diplomatic engagement to achieve lasting peace and stability in the region.

He also underscored the importance of building on the understandings reached under the Islamabad MoU of June 2026 and reaffirmed Pakistan's readiness to continue playing a sincere and constructive role in support of regional peace and stability.

President Masoud Pezeshkian appreciated Pakistan's consistent diplomatic support to Iran and efforts for regional peace and security.

The Iranian president also underscored the enduring strength of Pakistan-Iran relations, rooted in centuries of shared history, culture, and faith and reaffirmed Tehran's strong desire to further deepen cooperation across a wide range of sectors.

Agreeing on the importance of maintaining regular consultations and close coordination to address common challenges and seize emerging opportunities, the two sides agreed to working closely in support of regional peace, security, and prosperity.

 

Kuwait PM

 

Prime Minister Shehbaz Sharif and his Kuwaiti counterpart, Ahmad Al-Abdullah Al-Ahmad Al-Sabah, on Wednesday reaffirmed their commitment to further strengthen bilateral relations, with particular focus on trade, investment and business cooperation.

The two leaders held a bilateral meeting on the sidelines of the 31st United Nations Climate Change Conference (COP31) in Antalya, Turkiye, where they discussed ways to expand cooperation in areas of mutual interest, including trade, investment, energy, development cooperation and people-to-people exchanges, a Prime Minister's Office news release said.

During the meeting, the prime ministers underscored the longstanding fraternal ties between Pakistan and Kuwait and expressed their resolve to translate the excellent political and diplomatic relations into stronger economic and business partnerships.

They also exchanged views on regional and international developments, particularly challenges relating to peace and security, the adverse consequences of climate change and the need for enhanced international cooperation to promote sustainable development.

Welcoming the recent ratification of the defence cooperation agreement by both countries, the two leaders expressed hope that the development would provide further impetus to bilateral cooperation.

They agreed to work together to advance mutual prosperity, promote regional stability and strengthen sustainable development, reaffirming their shared commitment to taking Pakistan-Kuwait relations to new heights.

The meeting reflected the shared desire of the two brotherly countries to deepen their longstanding partnership and expand mutually beneficial cooperation across diverse sectors.

Informal meetings

 

Prime Minister Shehbaz Sharif on Wednesday held informal meetings with prominent world leaders on the sidelines of the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye, where discussions focused on strengthening bilateral relations, regional developments and the challenges posed by climate change.

During the meetings, the prime minister and world leaders underscored the importance of highlighting at the global level the challenges faced by countries most severely affected by the adverse impacts of climate change.

During his engagements, the prime minister met Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al Saud, Bangladesh's Prime Minister Tarique Rahman, and Secretary-General of the Organization of Islamic Cooperation (OIC) Hissein Brahim Taha.

He also met Palestinian Prime Minister Mohammad Mustafa, during which he reaffirmed Pakistan's unwavering support and solidarity with the Palestinian people.

Prime Minister Shehbaz Sharif reiterated that the Government and people of Pakistan stood firmly with Palestine and continue to raise their voice at international forums against the atrocities being committed against Palestinians.

In response, the Palestinian prime minister expressed his gratitude to Pakistan's government and people for their consistent support of the Palestinian cause and for effectively highlighting the plight of the Palestinian people at the global level.

The prime minister also held meetings with Türkiye's First Lady Emine Erdogan, Syrian President Ahmed al-Sharaa, Saudi Arabia's Minister of State for Foreign Affairs Adel bin Ahmed Al-Jubeir, and World Bank President Ajay Banga. AGENCIES