Pakistan Updated Nationally Determined Contributions, 2021

In its Updated Nationally Determined Contributions 2021, Pakistan intends to set a cumulative ambitious conditional target of overall 50% reduction of its projected emissions by 2030, with 15% from the country’s own resources and 35% subject to provision of international grant finance that would require USD 101 billion just for energy transition. To reach the target, Pakistan aims to shift to 60% renewable energy, and 30% electric vehicles by 2030 and completely ban imported coal. Moreover, Pakistan seeks to expand Nature-Based Solutions (NBS) by implementation of Ten Billion Tree Tsunami Programme, Recharge Pakistan, and Protected Areas Initiative. The country envisages enhancing the access to international climate finance to deliver the contributions and also considers employing the instruments on enhanced ambition provided in Article 6 of the Paris Agreement. Pakistan has already identified market and non-market-based approaches to help diversify the funding sources, including Nature Performance Bonds, Green/Blue Bonds, Carbon Pricing Instruments, etc. Pakistan encourages the private sector to play a crucial role in implementing its climate ambition across sectors and the development of NBS that address its mitigation and adaptation potential.