A discussion was held at the COP28 summit in Dubai about the challenges of climate change for developing countries like Pakistan. Dr. Charles Ehrhart, from KPMG, spoke about the high cost of addressing these challenges and the need for public-private partnerships. He emphasized the importance of the private sector collaborating with the government to solve climate problems.

Amir Paracha, president of Pakistan’s Overseas Investors Chamber of Commerce and Industry, highlighted Pakistan’s vulnerability to climate change impacts and the need for collaboration between the private sector and the government. The discussion also addressed the role of carbon markets in influencing decarbonization across the economy. Dr. Karen Olsen from the United Nations Environment Program recommended the formulation of a domestic emissions trading scheme for Pakistan to drive investments toward decarbonization.

The panel discussion focused on the need for innovative solutions and the involvement of both the public and private sectors in addressing climate challenges. The experts stressed the importance of unlocking climate finance from the private sector and the role of organizations in understanding the rapidly changing landscape of climate change. The conversation also highlighted the need for international best practices to safeguard the integrity of carbon markets and drive investments toward decarbonization.

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