Pakistan’s first-ever SDG (Sustainable Development Goals) Investor Map was launched Wednesday at the SDG Investment Fair 2023 during the Pakistan session.
“With the core support of UNDP (United Nations Development Programme), we have developed Pakistan’s first-ever SDG Investor Map,” said permanent representative of Pakistan to the United Nations Munir Akram at the meeting held at the UN headquarters in New York.
“The map is a dynamic impact intelligence tool that identifies a range of market-specific investment opportunities in Pakistan for SDG-aligned capital deployment, backed by Pakistan-specific data and evidence,” he added.
“The map will highlight bankable investment opportunity areas which, if prioritized, can lead to a reduced trade deficit; gradual transition to alternate and renewable energy; sustainable production and consumption patterns; robust infrastructure; and enhanced food security,” he added.
The map was launched at the event on “Advancing Pakistan’s Climate Resilience by Catalyzing Innovative SDGs Financing,” organized by the United Nations Department of Economic and Social Affairs and UNDP.
Akram reiterated that the Government of Pakistan is fully committed to achieving the 2030 Agenda for Sustainable Development and its goals but the growth trajectory has gotten “disrupted” as a consequence of the COVID-19 pandemic, the catastrophic floods of 2022 and the ongoing food, fuel, and financial crisis.
“Our fiscal space for development expenditure has shrunk. Pakistan’s annual financing gap for the SDGs stands at 3.72 billion U.S. dollars for the period 2020-2030,” said Akram.
He also stated that since Pakistan is one of the top 10 climate-vulnerable countries in the world, the country’s adaptation to the SDGs is “immense.”
“Being one of the top 10 countries in the world most vulnerable to climate change, our adaptation needs are immense; estimated to costing between 7-14 billion U.S. dollars per annum,” said the ambassador.
Akram further emphasized the goal behind the development of the “Resilient Recovery, Rehabilitation, and Reconstruction Framework” by the Government of Pakistan, which was presented at the “International Conference on Climate Resilient Pakistan” in Geneva.
The fair also unveiled Pakistan’s diversified portfolio of climate-resilient investments worth 2.84 billion dollars.
Tariq Bajwa, Special Assistant to the Prime Minister on Finance, Government of Pakistan, in his virtual keynote address at this special session convened on Pakistan.
“We are cognizant of Pakistan’s current macroeconomic challenges,” he said. “As Pakistan recovers from the devastating impact of the 2022 floods, the Government of Pakistan is prioritizing efforts to mobilize financing for development to not only support long-term recovery and reconstruction efforts, but also to achieve inclusive economic growth aligned with SDGs.”
Navid Hanif, UN assistant secretary-general in the Department of Economic and Social Affairs, said, “It is time to redouble our efforts to increase investment in the Sustainable Development Goals. The SDG Investment Fair provides an inclusive platform for doing so by promoting innovative partnerships for mobilizing private capital. It is encouraging that Pakistan is presenting innovative proposals to attract private capital to drive its sustainable and climate resilient growth in the aftermath of the floods.” Enditem