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PM Shehbaz Sharif Calls for Grant-Based Financing at COP 31 Summit

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Antalya:Prime Minister Shehbaz Sharif has advocated for grant-based financing, including public-private partnerships, along with significant enhancements in resilience and adaptation funds, particularly for struggling economies facing climate disasters.

According to Radio Pakistan, during his address at the COP 31 Summit in Antalya, Turkiye, the Prime Minister emphasized the need for timely help and support for vulnerable countries when climate disasters occur, to ensure that their debt is not exacerbated.

Prime Minister Sharif highlighted the cross-border nature of climate change, stressing that no single nation can address it alone and that solidarity must translate into real action. He referenced the devastation caused by flash floods in Pakistan in 2022 and expressed gratitude to the Turkish leadership and people for their support during the floods of 2010 and 2022.

Furthermore, Sharif pointed out Pakistan's initiatives to promote clean energy, noting that clean sources now account for nearly fifty-five percent of the country's energy mix. He mentioned Pakistan's advancement in electric mobility and the target to reduce projected emissions by about fifty percent by 2035. However, he underlined that national efforts must be complemented by a fair and just global response, as those least responsible for climate change often bear its heaviest consequences.

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