The Global Shield against Climate Risks for enhanced Climate Resilience in Pakistan
- To improve Pakistan’s Climate Disaster Risk Financing Instrument (CDRFI) architecture, there is a need to conduct a technical and data-driven needs assessment to identify gaps in existing financing frameworks. An open risk modeling platform is required to improve data access and quality across different sectors.
- To conduct climate risk analysis, partners can be empowered by technical assistance services, models and data for public good, and open risk modeling platforms.
- There is a need for indexed-based insurance products, saving mechanisms, and other financial instruments to diversify the scope of financial security for businesses while simultaneously building resilience against climate change.
- To ensure climate resilience, international Development Finance Institutions should support enhancing Pakistan’s technical capacity in addition to providing financial support.
- There is a need to provide subsidies to farmers so that they can adopt climate smart agriculture, modern weather forecasting, irrigation and water management systems.
