Pakistan joins newly-launched Beijing Initiative for Green Development

BEIJING, Oct. 19 (Raja Awais): In a major development of the concerted efforts towards a green future, the Sustainable Development Policy Institute (SDPI) of Pakistan joined the Beijing Initiative for Belt and Road Green Development as a founding member.

The initiative was launched in Beijing today at the High-Level Forum on Green Development.

The Forum is part of the two-day Third Belt and Road Forum for International Cooperation that ended today. The Green Investment and Finance Project (GIFP) of BRI partners was kicked off in tandem.

Dr. Abid Qaiyum Suleri, executive director of the Sustainable Development Policy Institute (SDPI), told reporter from China Economic Net (CEN) that green financing is the solution to climate-friendly economic growth.

“Our institution will continue to work closely with Chinese partners to address common climate concerns”.

Shakeel Ahmad Ramay, Chief Executive Officer of Asian Institute of Eco-civilization Research and Development, said in an interview with CEN that as Pakistan is facing both economic and environmental challenges, green financing will help the country mitigate both problems, reducing poverty and providing climate-compatible infrastructure.

Shariq Shaikh Muhammad, chief representative of the National Bank of Pakistan (NBP) Beijing Office, said, “Green development is the future. NBP is also striving to enhance its capacity to facilitate the generation of green energy.

We will also turn the office in Beijing into an operation branch to cement collaboration with China”.

Zhang Jianyu, executive director of BRI International Green Development Institute, which is one of the organizers of the forum and is also carrying out climate change mitigation and adaptation projects in collaboration with Pakistan, told CEN that climate commitment, integration with digitalization and information technology, and exquisite but impactful projects for communities hold the key to efficient, sustainable green BRI development in the future.

The forum was addressed by UN Secretary-General António Guterres, who stressed that Green Silk Road can help step-up the global efforts for green future in two key areas.

“First, investments flowing from the Green Silk Road are an important opportunity to fast-track sustainable and climate-resilient development to protect lives and livelihoods.

Second, we must ensure that any new infrastructure investments through the Green Silk Road turbocharge a just and sustainable transition away from planet-wrecking fossil fuels towards renewable energy”.

Over 400 representatives from over 40 countries attended the forum.