UK’s Climate Finance Accelerator Roundtable Event Concludes Investor Roadshow, Announces CFA Phase III

KARACHI, Feb 20 (SABAH): The Climate Finance Accelerator Pakistan (CFA) concluded its two-day Investor Roadshow 2024 with a high-level roundtable discussion on Tuesday. The event, chaired by James Naughton, Head of Development Finance and Investment, DAI Global and co-chaired by Clementine Le Nagard, and Ellen Paton from UK Department for Energy Security and Net-Zero, brought together 20 influential leaders and experts from the banking, corporate, and development finance sectors to discuss the future of climate finance and low-carbon initiatives in Pakistan.

The roundtable discussion aimed to engage in a meaningful and result-oriented conversation about the challenges and opportunities in scaling climate finance in Pakistan. It also explored innovative strategies to make climate finance more accessible and viable, with a focus on transitioning the CFA into a sustainable, locally embedded institution within Pakistan by 2025.

In his opening remarks, Clementine Le Naughton highlighted the UK’s interest in climate change and its commitment to supporting Pakistan in achieving a sustainable future.

“The UK is committed to working with Pakistan to address the challenges of climate change,” said James. “A sustainable future is not only beneficial for Pakistan but also for the world. Through initiatives like the Climate Finance Accelerator, we can create innovative solutions that will benefit Pakistan and contribute to global efforts to combat climate change.”

Khurram Lalani, Team Lead of the CFA Programme, emphasized the role of the CFA as a key platform for climate mitigation projects in Pakistan. He highlighted the importance of the programme in fostering innovation and creating bankable projects that contribute to Pakistan’s sustainable future.

“The Climate Finance Accelerator Programme is at the forefront of creating innovative solutions for Pakistan’s future,” said Khurram Lalani. “Through our efforts, we aim to support climate mitigation projects that not only reduce carbon emissions but also create long-term financial viability for Pakistan.”

The roundtable discussion concluded with the announcement of the launch of CFA Phase III in Pakistan in April 2024. The new phase of the programme aims to build on the success of the previous phases and further strengthen Pakistan’s capacity to address climate change through innovative financing mechanisms.

The Climate Finance Accelerator Roundtable event underscored the CFA’s commitment to fostering practical solutions and long-term strategies for low-carbon, mitigation projects in Pakistan. It highlighted the importance of collaboration between the UK and Pakistan in addressing climate change and emphasized the role of innovative financing mechanisms in achieving a sustainable future.