ANTALYA (The Thursday Times) — Pakistan called for debt-for-climate swaps, climate checks on tax decisions, and closer parliamentary oversight of climate money at COP31 on Saturday, as Parliamentary Secretary for Information and Broadcasting Barrister Danyal Chaudhry set out five recommendations for debt-stressed countries at the Pakistan Pavilion in Antalya.
He was speaking at a parliamentary dialogue titled “Adapting Under Austerity: Delivering Paris Commitments in Debt-Stressed, Climate-Vulnerable Economies”, which brought together lawmakers, climate experts, and development partners from Pakistan, Ethiopia, Uganda, and Japan.
Chaudhry said economic stability was the foundation, but the world also had to count the economic cost of failing to act on climate. For Pakistan, he said, the challenge went beyond repaying debt: the drive for fiscal discipline must not weaken the state’s ability to protect its citizens from climate disasters.
He said past policies adopted in the name of fiscal consolidation had raised taxes and discouraged climate-resilient development, an approach the government believes worked against its climate goals. Tackling the crisis needed collective action on a shared planet, he added, and there could not be separate standards for rich and developing nations.
Five recommendations
First, he called for climate-proofing fiscal and tax policy, with climate impact assessments required for major financial decisions so that they do not raise the cost of sustainable development. Second, he urged stable and predictable policies to protect the shift to renewable energy, so that households and businesses investing in clean power are not penalised.
Third, he said governments and lenders should treat adaptation as a productive investment rather than an expense, because spending on climate-resilient farming, water management, early warning systems, and disaster-proof infrastructure cuts the cost of recovery later.
Fourth, he called for an overhaul of the global debt system through debt-for-climate swaps, climate-contingent clauses, concessional finance, and longer repayment schedules, so that disaster-prone countries are not forced to give up essential development.
Fifth, he proposed annual reporting to parliament on climate-related taxes, subsidies, budget allocations, and adaptation results, to keep national budgets in line with Pakistan’s Nationally Determined Contributions and its National Adaptation Plan.
Pakistan at COP31
Pakistan’s delegation has used the summit to press for finance that reaches vulnerable countries. Climate Minister Musadik Malik asked partners to fund batteries for households going solar, and Senator Sherry Rehman urged the conference to deliver climate finance rather than pledges.
The talks in Antalya reached their midpoint this weekend, with negotiators still divided over how strongly the final text should respond to warnings that the world will overshoot the 1.5C limit.
