Climate change to cost Pakistan up to $14 billion annually

Daily Times (Pakistan): Climate change could cost the economy of Pakistan up to $14 billion each year for natural disasters and other losses, which is almost 5 percent of the country’s gross domestic product, this was stated by Former Federal State Minister for Environment Malik Amin Aslam.

He was addressing a seminar titled ‘Outcomes of Post Durban Climate Change Negotiations’ organised by Centre of Excellence, Environmental Economics and Climate Change, Pakistan Institute of Development Economics (PIDE) here on Thursday to discuss the implications of these negotiations on Pakistan as climate change is directly impacting the economy of Pakistan.

While speaking on the occasion, PIDE Vice Chancellor Rashid Amjad said that unfortunately such global conferences are becoming a futile exercise as all member countries either developed or developing want to safeguard their own agendas and individual benefits.

“However, there is a strong need to understand that instead of upholding individual interests and blaming one another for GHG emissions we should look for practical and collective preventive measures as climate change is a threat for the entire world,” he said...