CLIMATE change is a pressing reality for Pakistan, directly impacting millions of lives. Ranked as the fifth most vulnerable country to climate change despite contributing just 0.88 per cent of global greenhouse gas emissions, Pakistan faces a dire crisis with severe implications.

The far-reaching effects of climate change in Pakistan underscore the urgency of the issue. Rising temperatures, erratic rainfall, frequent floods, droughts, and glacial melting have become the norm. Between 1960 and today, the average temperature in Pakistan has risen by 0.5°C, with projections suggesting an additional 1.3°C to 1.5°C rise by 2050.

This increase has translated into economic losses of over $40 billion from floods alone, such as those experienced in 2022, which claimed over 1,700 lives and injured 12,000 others. By 2044, an estimated five million Pakistanis will be exposed to extreme river floods annually. Coastal areas, too, face heightened vulnerability, with one million people expected to be affected by rising sea levels and coastal flooding by the century`s end.

Extreme weather events result in catastrophic challenges, especially for rural communities, as they disrupt livelihoods, disturb academic activities, displace families, and increase the prevalence of waterborne and vector-borne diseases such as diarrhoea andmalaria. Malnutrition worsens as food insecurity becomes more prevalent due to erratic crop yields caused by unpredictable rainfall patterns.

The World Bank projects that the combined effects of climate change, environmental degradation, and air pollution could reduce Pakistan`s GDP by 18-20pc by 2050, stalling progress on poverty reduction and sustainable development. This underscores the necessity of immediate, coordinated action.

Fortunately, relevant stakeholders are beginning to act.

At COP29, Pakistan took significant steps to reinforce its commitment to global climate action. The launch of a climate finance framework was a notable achievement, aimed at attracting investments to support sustainable initiatives. This aligns with Pakistan`s ambitious Nationally Determined Contributions (NDCs), which target a 30pc reduction in carbon emissions and a renewable energy mix of over 60pc by 2030.

While these goals demonstrate the country`s dedication to environmental sustainability, challenges such as regulatory bottlenecks, financial constraints, and the need for a cohesive policy approach remain key hurdles in realising these commitments.

In this context, the Overseas Investors Chamber of Commerce and Industry (OICCI) has been playing a key role in furthering Pakistan`s climate agenda. Through initiatives such as the Pakistan Climate Conference,OICCI has created a collaborative platform where stakeholders from the public and private sectors, NGOs, academics, and international organisations can engage in meaningful dialogue. These conferences serve as a catalyst for action, fostering discussions on renewable energy, climate-resilient infrastructure, disaster preparedness, and sustainable business practices.

Building on the success of past dialoguesand commitments, the committed of relevant stakeholders to driving these discussions forward remains evident. Previous climate conferences have shed light on key areas such as green finance, carbon reduction strategies, and policy recommendations for fostering a sustainable economy. Future conferences will continue to serve as catalysts in shaping the nation`s climate resilience roadmap by facilitating knowledge exchange,strengthening policy advocacy, and promoting actionable solutions for climate adaptation and mitigation.

Addressing Pakistan`s climate challenges requires a multifaceted approach.

Strengthening infrastructure to withstand extreme weather events, developing climateresilient housing, and enhancing irrigation systems are critical to protecting vulnerable communities. The adoption of green technologies, such as solar and wind energy, can further reduce the country`s dependence on fossil fuels and mitigate climate risks.

Additionally, increasing public awareness and advocacy efforts can help mobilise grassroots movements and drive stronger policy frameworks.

Pakistan stands at a pivotal moment in its climate journey. The commitment demonstrated at local and international platforms, coupled with the continued efforts of organisations and individuals, highlights the urgency of collective action.

Through sustained dialogue, strategic policymaking, and investment in sustainable solutions, Pakistan can navigate the path toward a greener, more resilient future. It is imperative for all stakeholders government, businesses, and civil society -to work together to turn climate commitments into tangible progress.

Now is the time to act before it is too late. • The writer is President OICCI and President & CEO Faysal Bank.