World Economic Forum acknowledged Pakistan’s efforts of green recovery from the covid 19 pandemic
How is Pakistan planning to recover from this epidemic?
The Code-19 crisis has highlighted the need for human beings to cultivate greater harmony rather than hostile relations with nature. - Pakistan is committed to the challenge of initiating green rehabilitation to protect nature and create much needed jobs. - The green stimulus package focuses on innovative financial instruments to help build sustainable, responsible economic growth.
The year 2020 was expected to be a "Super Year for Nature", designed to advance the ideals of climate and diversity globally. However, nature itself had other plans. The first two amazing lessons that emerge from the subsequent Covid-19 crisis are that nature works with boundaries and thresholds that demand respect and when it is crossed so the results are out. When humans pushed the threshold of their existence forward, nature reacted and triggered the bird flu epidemic that has now engulfed an astonishing world. The second lesson emerged with the hope that a new and lasting relationship with nature is possible and accessible, but that political commitment and collective action need to be behind it. Both lessons are forcing us to re-balance our relationship with nature.
Over the past few months, while many countries were ready to confuse us with this new routine, Pakistan was ready to think ahead and work out of the box - a silver line emerging around this dark cloud of confusion and uncertainty To The government's green agenda for the successful implementation of the Billion Tree Tsunami (2014-18) already recognized the premise that nature-based solutions not only protect and preserve nature but also promote alternative green economies. Capabilities are also available. More importantly, it effectively launched a launch pad to change the direction of the economy's sustainable development.
Against this backdrop, the Cowade-19 crisis provided an opportunity and Pakistan seized it to recover from the depression and reboot a pressurized economy focused on two objectives: nature conservation and green jobs. To create Central areas of intervention included planting as many trees as possible, expanding and rehabilitating our protected areas, and improving urban sanitation. The most immediate of these can create jobs while the country can get out of the crisis on the positive path of nature.۔
What is the World Economic Forum doing to manage the risks posed by CWED-19?
1- Creation of green jobs
We envisioned a three-step process for financing the creation of green jobs, all of which are now available with special funding options. The first phase was funded entirely by the "Self-Budget Repair Provisions", which had to be re-calibrated and given priority to green job creation. It was necessary to show total government commitment and ownership As a result, net government-funded activities worth Rs. 10 billion have already provided 85,000 daily wage jobs across the country in nursery expansion, plant care, natural forest protection and fire fighting activities. And we have further planned to pay him 200,000 rupees a day in the next few months.
2. Launch of 'Ecosystem Restoration Fund
For the second phase, a new post-CoV-19 rehabilitation platform, the Ecosystem Rehabilitation Fund, was launched to allow willing partners (public and private) to join Pakistan's green rehabilitation. 180 180 million in support funds have been secured through multilateral partners (led by the World Bank), proving that funds can always be generated if properly planned with full ownership.
The funds will help expand the tree-planting initiative as well as protect the environment of the recently announced 15 national parks. All of these funds were announced during the Cove-19 crisis as the country increased its coverage of its protected areas by 50 percent. Pakistan's first institutionalized National Parks Service is now underway, with the goal of creating 5,000 jobs for young people who will be trained to be nature's custodians and protectors. All of these activities are designed to address the unexpected rise in unemployment across the country, as well as to link economic activities to nature conservation.
3. 'Loan for Power' swap scheme
A cleverly designed "loan for nature" swap scheme in the medium term has recently been put in the pipeline, targeting ایک 1 billion in funding. This is conditional on the renewal of Pakistan's growing debt with the countries supporting the green recovery of the global economy. There are strong indications of growing global hunger to support this directional change, and Pakistan has recently been selected for a pilot-based nature bond - linking debt retirement to quantitative performance on diversity protection.
4. Designing a 'Green Eurobond'
Finally, during the epidemic, the country boldly announced its goal of achieving 60% clean energy mix by 2030, moving away from the coal-based path to renewable energy. Pakistan immediately acted on this announcement, resolving 2600 MW of imported coal projects and replacing them with 3700 MV hydroelectric projects. Reducing the growing appetite for green and low-carbon investments in international capital markets. Pakistan is set to launch its first "Green Eurobond" this month for 500 500 million. This will announce the entry into the expanding and environmentally conscious market of the country. While reading this path, Pakistan also soon realized that you need to value nature in order to preserve it. It has since embarked on the first "natural capital valuation" exercise of its kind to determine the true value of the natural asset it is protecting and preserving, not only for itself but also for the growing crisis of climate change and There is also a world surrounded by the loss of diversity۔
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