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Economic Inequality in Pakistan Fuels Recurring Imbalances, Hindering Sustainable Growth

Economic Inequality in Pakistan Fuels Recurring Imbalances, Hindering Sustainable Growth

Economic Inequality in Pakistan Fuels Recurring Imbalances, Hindering Sustainable Growth

Pakistan Shares Insights on Implementing Inclusive Green Finance Policies

Pakistan Shares Insights on Implementing Inclusive Green Finance Policies

From November 3 to 6, AFI members from over 20 countries convened in Islamabad for a joint learning program (JLP) focused on the implementation of Inclusive Green Finance (IGF) policies. Hosted by the State Bank of Pakistan (SBP), the program allowed participants to learn from Pakistan's practical experience in transitioning from IGF policy formulation to tangible implementation. Pakistan, facing significant climate risks that impact its economic stability and financial inclusion, has proactively addressed these challenges through initiatives such as Green Banking Guidelines, a National Green Taxonomy, and climate-smart agriculture programs. SBP Governor Jameel Ahmad emphasized the importance of understanding and managing climate-related risks as part of regulatory and supervisory responsibilities. The JLP included local stakeholders and regulatory experts from various institutions, including the SBP, the Securities and Exchange Commission of Pakistan (SECP), and central banks from Fiji, Bangladesh, Papua ...

Pakistan Shares Lessons on Inclusive Green Finance Policy Implementation with AFI Members

Pakistan Shares Lessons on Inclusive Green Finance Policy Implementation with AFI Members

From November 3 to 6, AFI (Alliance for Financial Inclusion) members from over 20 countries convened in Islamabad, Pakistan, for a joint learning program (JLP) focused on the practical implementation of Inclusive Green Finance (IGF) policies. Hosted by the State Bank of Pakistan (SBP), the program allowed participants to learn from Pakistan's experience in transitioning from IGF policy formulation to practical application. SBP Governor Jameel Ahmad highlighted that climate change presents both physical and transitional risks affecting financial positions, institution balance sheets, and overall financial stability. Pakistan has proactively addressed these challenges through initiatives like Green Banking Guidelines, a National Green Taxonomy, and climate-smart agriculture programs.

Filipino Scientist Dr. Alfredo Mahar Francisco A. Lagmay Champions Disaster Preparedness Amidst Climate Change Challenges

Filipino Scientist Dr. Alfredo Mahar Francisco A. Lagmay Champions Disaster Preparedness Amidst Climate Change Challenges

Dr. Alfredo Mahar Francisco A. Lagmay, a prominent Filipino scientist and scholar at the University of the Philippines, is advocating for enhanced disaster preparedness in the Philippines, which the 2026 World Risk Report identifies as the world's most disaster-prone country. The nation faces an average of 20 tropical cyclones annually, alongside frequent floods, earthquakes, landslides, and tsunamis. Dr. Lagmay, who leads Project NOAH (Nationwide Operational Assessment of Hazards), highlighted how scientific innovations like flood mapping, real-time hazard monitoring, and accessible public apps have significantly reduced death tolls from floods. He cited the example of Typhoon Pablo (Bopha), where Cagayan de Oro experienced zero casualties due to improved preparedness. His work involves using LiDAR and drones to map flood-prone areas and making this information available to the public through an app and website. Dr. Lagmay also exposed corruption in flood control projects, where billions of Philippine pes...

Pakistan Recognizes Climate Risk as Business Risk, Prioritizing Resilience in Economic Planning

Pakistan Recognizes Climate Risk as Business Risk, Prioritizing Resilience in Economic Planning

Pakistan Recognizes Climate Risk as Business Risk, Prioritizing Resilience in Economic Planning

UN Report Highlights 50% Fruit Yield Reduction in Pakistan's Punjab Due to Heatwaves

UN Report Highlights 50% Fruit Yield Reduction in Pakistan's Punjab Due to Heatwaves

A report by the UN Food and Agriculture Organization (FAO) and the World Meteorological Organization (WMO), titled 'Extreme Heat and Agriculture,' reveals that increasing heatwaves are significantly impacting fruit yields, agricultural incomes, and food availability in Punjab's rain-fed farming areas in Pakistan. The report specifically notes that fruit yields in Punjab's high-rainfall zones have decreased by up to 50% due to heat stress. Beyond yield reduction, higher temperatures also accelerate the spoilage of vegetables and other perishable goods, leading to reduced market availability and contributing to price increases. These declining crop yields and post-harvest losses are directly reducing household incomes and limiting access to food for rural communities. The report also points out that women in these areas face additional exposure to extreme temperatures through activities like harvesting and water collection, with limited access to resources further hindering their ability to adapt.

Asian Development Bank Approves $300 Million for Water and Sanitation Services in Sri Lanka

Asian Development Bank Approves $300 Million for Water and Sanitation Services in Sri Lanka

The Asian Development Bank (ADB) has approved two projects totaling $300 million aimed at enhancing water supply and sanitation services across Sri Lanka. The Climate-Resilient Sustainable Water Supply and Sanitation Project will receive $200 million to improve access to safe water for over 1.3 million people in the Western and Southern provinces and upgrade sewerage services for nearly 250,000 people in Jaffna, Northern Province. This project includes constructing new resilient water treatment plants, transmission and distribution networks, and storage reservoirs in Colombo and Lunugamwehera, alongside developing wastewater treatment facilities and sewerage networks in Jaffna. Additionally, a $100 million second subprogram of the Water Supply and Sanitation Reform Program, ADB's first policy-based lending in Sri Lanka's water sector, will build upon previous reforms. According to ADB Country Director for Sri Lanka Shannon Cowlin, these initiatives are crucial for public health and economic growth, support...

Pakistan Furniture Council CEO Urges Establishment of Strategic Oil and Gas Storage Facilities Amid Geopolitical Tensions

Pakistan Furniture Council CEO Urges Establishment of Strategic Oil and Gas Storage Facilities Amid Geopolitical Tensions

Mian Kashif Ashfaq, Chief Executive Officer of the Pakistan Furniture Council (PFC), has emphasized the critical need for Pakistan to establish strategic oil and natural gas storage facilities. Speaking at a council meeting, Ashfaq stated that developing these reserves and underground gas storage infrastructure is an immediate national security requirement. He highlighted Pakistan's vulnerability, particularly after the closure of the Strait of Hormuz and QatarEnergy's declaration of force majeure, as the country relies almost entirely on Qatar for its LNG supply. Ashfaq noted that Pakistan had to seek Saudi Arabia's assistance for rerouting crude oil supplies through the Red Sea and had to release gas reserves due to inadequate storage. He suggested that the government should create clear regulatory frameworks and ensure commitments to encourage private-sector investment in these facilities, rather than solely relying on public funds. Establishing bonded storage hubs and expanding terminal capacity would ...

Pakistan Faces Significant Climate Finance Shortfall Amidst 2022 Flood Aftermath

Pakistan Faces Significant Climate Finance Shortfall Amidst 2022 Flood Aftermath

Pakistan is grappling with the severe economic repercussions of the 2022 floods, which caused an estimated $30 billion in losses. The country is facing a substantial shortfall in climate finance, with only $15-18 billion allocated for adaptation globally against an estimated need of $310-365 billion. Developed nations' 2009 pledge to mobilize $100 billion annually for climate finance has largely gone unfulfilled, with actual funding in 2022 reported by Oxfam to be around $28-35 billion, despite claims of $116 billion. A significant portion, approximately 65-70%, of the climate finance delivered to developing countries has been in the form of loans, exacerbating Pakistan's debt pressures. This financial inadequacy is hindering Pakistan's post-flood recovery efforts and increasing its reliance on additional borrowing.

Millions of Homes at Risk of Flooding Beyond FEMA Maps

Millions of Homes at Risk of Flooding Beyond FEMA Maps

Recent research highlights that approximately 14.6 million properties in the United States are at risk of flooding, significantly more than indicated by FEMA's 100-year flood maps. These maps, often outdated and based on historical data, fail to account for future risks and do not assess individual home vulnerabilities. Factors such as flood depth, building age, construction quality, and insurance coverage play a critical role in determining the actual risk to properties. A study conducted in Houston revealed that homes within the same neighbourhood could have vastly different flood vulnerabilities, depending on their specific characteristics and location within the area.

Nepal Considers Suing Major Carbon Emitters for 2026 Floods

Nepal Considers Suing Major Carbon Emitters for 2026 Floods

Nepal is exploring the possibility of suing major carbon emitters for the catastrophic floods that occurred in August 2026, which resulted in thousands of deaths. These floods are largely attributed to climate change, marking another severe climate-related event in South Asia, following the 2022 floods in Pakistan. The debate centers on establishing the flood victims as victims of 'climate wrongs.' This approach draws parallels with climate litigation cases pursued by plaintiffs in various European and U.S. jurisdictions over the past two decades. The legal strategy would involve analyzing the Nepalese situation through the lens of these international climate lawsuits to determine a viable path forward.

Global Acute Hunger Doubles in a Decade as Humanitarian Aid Declines, Report Finds

Global Acute Hunger Doubles in a Decade as Humanitarian Aid Declines, Report Finds

A new report from Action Against Hunger, highlighted at an Overseas Development Institute (ODI) event, reveals that acute food insecurity has doubled globally in the last decade. Approximately 266 million people across 47 countries and territories faced acute food insecurity in 2025, a significant increase from 2016. This surge in hunger is concentrated, with 177 million people (two-thirds of the total) residing in just 10 countries, including Nigeria, the Democratic Republic of Congo, and Sudan, which alone account for 82.9 million individuals. Concurrently, humanitarian funding for food security has drastically fallen by more than half over the past three years, returning to 2016 levels. Global Official Development Assistance (ODA) also decreased by 23% in 2025. This funding gap leaves Humanitarian Response Plans severely underfunded, with rates as low as 15.9% in Syria. The report also notes that nearly 30 million children under five suffered from acute malnutrition in 2025 in these 10 crisis-affected c...