Peshawar - The Khyber Pakhtunkhwa government has announced plans to raise its climate change fund to Rs. 100 billion by 2028, doubling the allocation for the next fiscal year from Rs. 20 billion to Rs. 40 billion.
Advisor to the Chief Minister for Finance and Inter-Provincial Coordination, Muzammil Aslam, represented the province at the COP 29 Convention on Climate Change in Baku, Azerbaijan. During a panel discussion titled “Clean Water and Climate Resilience: Transforming Pakistan’s Water and Agricultural Landscape,” he emphasized the urgent need for increased investment in watershed management and climate resilience projects.
Muzammil Aslam highlighted the requirement of 5,000 watersheds across the province, with an estimated investment need of Rs. 115 billion, while only 250 watersheds have been completed so far. He underscored the government’s commitment to climate initiatives, revealing that funding for climate change projects will double annually, reaching Rs. 100 billion by the fifth year.
Discussing the province’s efforts, he detailed the Billion Tree Plus initiative, which aims to expand forested areas and offset carbon emissions. To date, 6,000 acres have been afforested under the program, neutralizing an estimated 8.1 million tons of carbon dioxide emissions.
He also invited partnerships for green energy projects, reaffirming the government’s dedication to mitigating climate change impacts and fostering sustainable development. Through platforms like COP 29, Aslam expressed optimism about addressing the province’s climate challenges effectively.