Project Summary

Pakistan was recognized as a pathfinder country under the Global Shield Against Climate Risks (GS) at COP27, joining a global initiative to improve timely and equitable access to pre-arranged climate disaster financing. To operationalize this effort, the Ministry of Climate Change and Environmental Coordination leads the In-Country Process (ICP), with United Nations Development Programme (UNDP) Pakistan serving as the designated In-Country Support Structure.

Launched in November 2023, the ICP aims to align Pakistan’s disaster risk finance efforts with the Global Shield framework. UNDP coordinates inclusive national dialogues on Climate and Disaster Risk Finance and Insurance, engaging over 300 stakeholders across federal, provincial, and regional levels. The process includes a national stock-take of existing initiatives, a gap analysis, and the development of a strategic Request for Support (RfS).

At COP29 in Baku, Pakistan became the first country in Asia and second globally to complete the ICP, submitting a formal RfS of $245 million to the Global Shield Secretariat. This milestone reflects Pakistan’s leadership in advancing climate resilience through strategic planning and multi-stakeholder capacity development.

Objectives

• Support the Government of Pakistan in implementing the Global Shield ICP
• Conduct a comprehensive stock-take of existing CDRFI initiatives.
• Perform a detailed gap analysis to highlight vulnerabilities and capacity gaps across sectors.
• Identify and assess national needs, priorities, and interventions for climate and disaster risk financing and insurance.
• Support development of strategic RfS under the Global Shield framework.

Outcomes

• The Global Shield ICP is successfully completed, officially positioning Pakistan as a regional leader in climate risk financing.
• A $245 million RfS is formally submitted to the Global Shield Secretariat, outlining priority financing needs.
• Over 300 stakeholders engaged through inclusive consultations at national, provincial, and regional levels, ensuring broad ownership.