KP Government Increases Climate Change Fund to Rs40 Billion

PESHAWAR: Climate change is a pressing issue that affects everyone, and the Khyber Pakhtunkhwa (KP) government is taking significant steps to address it. Recently, the provincial government announced its plan to increase the climate change fund to a remarkable Rs100 billion by the year 2028. This ambitious initiative includes a substantial increase in next year’s allocation, which will be doubled from Rs20 billion to Rs40 billion.

Adviser to the Chief Minister for Finance and Inter-Provincial Coordination, Muzammil Aslam, represented Khyber Pakhtunkhwa at the Convention on Climate Change (COP 29) held in Baku, Azerbaijan. During this event, he participated in a panel discussion focused on “Clean Water and Climate Resilience: Transforming Pakistan’s Water and Agricultural Landscape.” Aslam emphasized the critical need for developing 5,000 watersheds in the province, which would require an investment of Rs115 billion. Currently, only 250 watersheds have been constructed, highlighting the urgent need for more.

Aslam stated, “We cannot wait any longer. If investors spend one dollar, we will also ensure proportional investment.” This statement underscores the provincial government’s commitment to attracting investment for climate change initiatives. This year, Khyber Pakhtunkhwa has allocated Rs20 billion for climate change projects, with plans to double this amount annually. By the fifth year of the provincial government, a total of Rs100 billion will be dedicated to combating climate change.

In discussing the government’s efforts to mitigate the impacts of climate change, Aslam noted that they are doing their best within their capacity. One of the key initiatives is the “Billion Tree Plus” project, which aims to counter the adverse effects of climate change. Under the Billion Tree Project, forests have been planted on 6,000 acres, which helps provide clean air and offsets approximately 8.1 million tons of carbon dioxide emissions.

Moreover, the KP government is focusing on green energy solutions. Aslam expressed that the government is open to partnerships and investments in green energy projects, indicating a proactive approach to sustainable development. He confidently claimed that there are currently no carbon footprints from climate change in Khyber Pakhtunkhwa.

Through platforms like COP 29, the KP government aims to effectively address the anticipated effects of climate change. This commitment not only reflects a dedication to environmental sustainability but also highlights the importance of collaboration between the government and private investors. As the world grapples with climate change, the steps taken by Khyber Pakhtunkhwa could serve as a model for other regions, demonstrating that proactive measures can lead to a healthier planet for future generations.