Pakistan: Flood Relief

Baroness Mobarik Excerpts

Wednesday 7th September 2022 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, I assure the noble Baroness that the points she raises are very valid. It is not just about a cross-government approach to climate change, but a global approach. That is why I am fully supporting, engaging with and will continue to engage with the current COP President, Alok Sharma. Prior to this catastrophe, in my role as Minister with responsibility for north Africa, I spoke directly to Egypt, which will hold the COP presidency, to ensure that the commitments mentioned earlier to meeting the challenges of climate change are kept. The United Kingdom very much stands at the forefront of that. We allocated £11.6 billion of climate finance funding. That support is not just pledged but delivered in a way that focuses on the specific issues. Looking at the lay of the land in Pakistan, important long-term investments need to be made in respect of adaptation and mitigation.

[Baroness Mobarik (Con)]

My Lords, rich countries promised to help finance lower income countries to deal with the impacts of climate change because of a recognition of their responsibility for historic carbon emissions. However, the target of £100 billion of climate finance by 2020 has never been reached. Does my noble friend agree that Pakistan should have its debt repayments suspended with immediate effect to ensure that much-needed resources are not sent out of the country at this time, as the human and economic costs the country faces are truly astronomical? Finance delivered in the past has been in the form of loans, not grants. Can we exert any pressure on the international community to do away with this debt?

[Lord Ahmad of Wimbledon (Con)]

My Lords, I know that the IFIs, including the IMF, are working with Pakistan on its current situation. My noble friend will know from her own insights that Pakistan has just agreed a programme with the IMF that was important, as I am sure she agrees, to ensure the economic stability of Pakistan for the medium term. This catastrophe was not foreseen but it could certainly have been mitigated, and that is why my noble friend talks about emissions and contributions.

It is important to look at the here and now. What can be put in place? What support can be offered to Pakistan? As we have seen in previous crises, including when we were gripped by the Covid pandemic, the decision was taken internationally to freeze debt interest repayment. I am sure that all the authorities concerned—the IFIs and the international organisations—are looking at the different proposals. The United Kingdom will also make sure its voice is heard.