World Bank hails Pakistan as world's leader on climate action

ISLAMABAD – Pakistan achieved the highest climate co-benefits (CCBs) in the world during the fiscal year 2021 through a number of mega initiatives to tackle climate change, it was acknowledged by the World Bank in its latest report.

Taking to Twitter, WB Country Director to Pakistan Najy Benhassine commented: “Pakistan shows the way on Climate Action”

“World Bank new engagements in #Pakistan in FY21 had highest climate co-benefits(CCBs) in the world, in terms of absolute value,& highest in South Asia as a % of new commitments,” he wrote.

Climate co-benefits (CCBs) refer to the share of the World Bank’s lending commitments that contributes to the climate action.

Benhassine added that a total of “US$ 1.635 billion CCBs were achieved in Pakistan in FY21 which represent 44pc of the total US$ 3.696 billion IDA/IBRD financing approved for the country in FY21”.

Out of these CCBs, 61% will contribute towards mitigation while 39% are tagged for adaptation measures, he said.

“The World Bank is committed to support the Government of Pakistan’s ambitious climate agenda,” he concluded.

Out of these CCBs, 61% will contribute towards mitigation while 39% are tagged for adaptation measures. The World Bank is committed to support the Government of Pakistan's ambitious climate agenda. #ClimateAction #ClimateChange

— World Bank Pakistan (@WB_Pakistan) October 6, 2021

Reacting to the World Bank’s report, Special Assistant to Prime Minister on climate change Malik Amin Aslam in a video said that the climate vision of Pakistan under the leadership of Prime Minister Imran Khan is about “real concrete action on the ground”.

SAPM on Climate Change, @aminattock briefs on the latest World Bank Report.
🇵🇰 is leading the world on #ClimateAction – massive 44% of its mainstream dev funding is now climate compatible thru on ground initiatives like #10BillionTreeTsunami #CleanEnergy #ProtectedAreasInitiative pic.twitter.com/N7n6x1gQjx

— PTI (@PTIofficial) October 6, 2021