Index Investing News
Saturday, March 14, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Country is bearing brunt of climate change

by Index Investing News
September 6, 2022
in Financial
Reading Time: 5 mins read
A A
0
Home Financial
Share on FacebookShare on Twitter


Pakistan is facing the worst consequences of the climate crisis thanks in part to the actions of the developed world, Finance Minister Miftah Ismail said, as the country battles the worst floods in its history.

“Pakistan is one of the worst-affected countries by climate change. We have, as you know, a very, very small carbon footprint, we don’t really produce carbon dioxide and other harmful gases,” Ismail told CNBC’s “Street Signs Asia” on Monday. 

“And yet we have to, you know, we have to share, we have to face the brunt of development elsewhere in the world, in the developed countries and elsewhere in Asia.”

“Pakistan has to face the climate crisis and the world has to wake up to this reality that a poor country like Pakistan, which is not producing any carbon dioxide, which is not contributing to the greenhouse effect, is actually suffering the worst.” 

Developed nations must make the transitions and follow through on the pledges they have made at COP, from Paris to now.

Sherry Rehman

Pakistan’s Climate Change Minister

Damage from the devastating floods is set to hit $10 billion, according to the Pakistani government, and has already killed more than 1,300 people, and destroyed 1.2 million homes, official data shows.

Thirty-three million people are affected by the floods, which started with the arrival of the monsoon in late June. More than a third of the country is under water.

Ismail said while more financial aid from the international community is welcome, what it needs to do now is to get serious about tackling climate change. 

“What is it the world can do to mitigate this right now, the situation in Pakistan?” Ismail said.

“I think that one has to come together right now and think about climate change and the effect on developing countries.”

Watch CNBC’s full interview with Foreign Minister of Pakistan Bilawal Bhutto Zardari

The United Nations, in launching a $160 million emergency plan to aid Pakistan last week, described the floods as “the footprint of climate change,” which is “becoming more extreme.” The country experienced an unprecedented heat wave in March and April, before the “pendulum” swung to floods, the U.N.’s World Meteorological Organization said.

Pakistan’s Climate Change Minister Sherry Rehman, likewise, said the country “has paid the price of others’ emissions.”

“Global warming is not generated by Pakistan at all. And global warming leads to heatwaves, flooding, glacial melt. Developed nations must make the transitions and follow through on the pledges they have made at COP, from Paris to now,” she said on her official Twitter account.

Global responsibility

International organizations have echoed both Ismail and Rehman’s sentiments.

Amnesty International said in a statement that the floods are a “reminder to wealthy countries to remedy unfettered climate change.”

Luke Harrington, a senior lecturer in climate change at New Zealand’s University of Waikato, warned that flood risks in Pakistan will worsen over the coming decades. 

Floods in Pakistan in 2010 — the last time extreme floods hit Pakistan — and this year were caused by the same combination of heavily meandering jet streams, tropical oceans being locked in a certain phase, and elevated temperatures in the Arabian Sea, Harrington told CNBC on Monday.

Residential areas flooded after heavy monsoon rain in Pakistan’s Jaffarabad district, Balochistan province, earlier this month. “Impactful levels of monsoon rainfall will occur more often in a world which is warmer than today,” one analyst said.

Fida Hussain | Afp | Getty Images

“There is strong evidence to suggest this confluence of ingredients will recur more often in a warming world,” he said. 

“We also know that the same storm systems would produce less rain if atmospheric carbon dioxide concentrations were fixed at pre-industrial levels.”

“Thus, we know that impactful levels of monsoon rainfall will occur more often in a world which is warmer than today.”

The role that climate change has played in Pakistan’s latest crisis is not, however, straightforward, according to some analysts.

In its latest assessment, the Intergovernmental Panel on Climate Change, a body of the United Nations, said the extent to which “human influence” — through factors such as emissions — has contributed to weather changes globally has increased since its last assessment in 2014.

However, while the panel said Pakistan and South Asia more broadly have had increased rainfall, it expressed low confidence in evidence that human activity contributed to the creation of extreme events in the region.

A flooded area in Nowshera, Pakistan, on Aug. 29, 2022.

Fayaz Aziz | Reuters

Andrew King, senior lecturer in climate science at the University of Melbourne, also said it’s hard to quantify the role of climate change in the floods, but added that it’s likely that “human-caused climate change” intensified the rainfall that led to them.

“We know that extreme rainfall events in this area have become more intense and as the planet warms we expect that trend to continue,” he said.

Destruction of crops

The floods come as a heavy blow to Pakistanis, who face a loss of crops and worsening inflation, Ismail added.

Pakistan consumer prices rose 27% in August, a 27-year high. 

Ismail said the floods have hit not only the current batch of crops, including cotton, but could hurt future supplies, such as those of wheat, if the ground does not dry up quickly. In addition to cotton, he added, most of Pakistan’s onion and chili crops have been destroyed.

“I mean, we’ve lost the cotton crop, fine,” Ismail said. 

“But the problem is that the wheat planting season comes in a couple of months. In fact, it’s in less than a month. And if the ground is not dry, wheat cannot be planted.” 

“And if you’re not able to get a wheat crop how are we going to feed the  population? We are already importing wheat.”





Source link

Tags: BearingbruntchangeClimateCountry
ShareTweetShareShare
Previous Post

BiggerNews September: Mortgage Rate Predictions

Next Post

“There’s a lot of stuff I’ve gone through”

Related Posts

Israeli F-35 downs Iranian fighter jet in historic dogfight

Israeli F-35 downs Iranian fighter jet in historic dogfight

by Index Investing News
March 4, 2026
0

The IDF Spokesperson announced Wednesday morning that there had been an historic event in the skies over Tehran. An...

Gen X to spend over 0 billion worth of goods and services by FY30 : RedSeer Report

Gen X to spend over $500 billion worth of goods and services by FY30 : RedSeer Report

by Index Investing News
February 28, 2026
0

Gen X is expected to consume over $500 billion worth of goods and services by FY30 fuelling demand for various...

The Hidden Working Capital Opportunity in Your Warehouse

The Hidden Working Capital Opportunity in Your Warehouse

by Index Investing News
March 12, 2026
0

For finance leaders at large retailers and brands, excess and returned inventory can pose a significant drag on working capital...

India plans major revamp to align tax and financial reporting rules

India plans major revamp to align tax and financial reporting rules

by Index Investing News
February 24, 2026
0

The Government of India is working on a plan to bring its separate tax and financial reporting regimes under a...

Gaurav Jogani sees jewellery, footwear driving consumer discretionary growth

Gaurav Jogani sees jewellery, footwear driving consumer discretionary growth

by Index Investing News
February 20, 2026
0

The consumer discretionary space continues to reveal a mixed performance across segments, driven by gold prices, festive shifts, and evolving...

Next Post
“There’s a lot of stuff I’ve gone through”

“There’s a lot of stuff I’ve gone through”

Ukraine war latest: Tyrant Vladimir Putin rolls out global vision of ‘Russian world’ used to JUSTIFY sick invasion

Ukraine war latest: Tyrant Vladimir Putin rolls out global vision of 'Russian world' used to JUSTIFY sick invasion

RECOMMENDED

Lessons from Isaac’s Storm – Econlib

Lessons from Isaac’s Storm – Econlib

December 31, 2022
India stocks lower at close of trade; Nifty 50 unchanged By Investing.com

India stocks lower at close of trade; Nifty 50 unchanged By Investing.com

January 21, 2024
Cardano (ADA) Remains #1 Cryptocurrency In This Metric

Cardano (ADA) Remains #1 Cryptocurrency In This Metric

January 23, 2024
Fewer Guidelines, Higher Individuals: What Lam Will get Proper

Fewer Guidelines, Higher Individuals: What Lam Will get Proper

May 22, 2025
Buy These 4 Hated Techs Focused On The Little Guy (NDX)

Buy These 4 Hated Techs Focused On The Little Guy (NDX)

November 24, 2023
Ugandan forces enter jap Congolese metropolis of Bunia to again up native troops

Ugandan forces enter jap Congolese metropolis of Bunia to again up native troops

February 18, 2025
Meals business operations – not so simple as flipping a swap

Meals business operations – not so simple as flipping a swap

April 22, 2025
Wacky Horror Comedy ‘Hanky Panky’ Trailer Featuring an Evil Top-Hat

Wacky Horror Comedy ‘Hanky Panky’ Trailer Featuring an Evil Top-Hat

April 12, 2024
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In