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Innovative Finance Facility for Climate in Asia and the Pacific Kick-Off Event - Masatsugu Asakawa

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Innovative Finance Facility for Climate in Asia and the Pacific Kick-Off Event, 12 November 2024




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Experts Pool: Senior Disaster and Climate Risk Financing Specialist

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Senior Compliance Review Officer

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Principal Integrity Specialist

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Associate IT Officer (Technology Operations Governance and Service Management)

ADB has a vacancy for the position of Associate IT Officer (Technology Operations Governance and Service Management) in the Information Technology Department . The deadline for submitting applications is on 19-NOV-2024.




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Senior Financial Control Assistant

ADB has a vacancy for the position of Senior Financial Control Assistant in the Controller's Department. The deadline for submitting applications is on 21-NOV-2024.




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Senior/Principal Planning and Policy Specialist

ADB has a vacancy for the position of Senior/Principal Planning and Policy Specialist in the Strategy, Policy and Partnerships Department. The deadline for submitting applications is on 22-NOV-2024.




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Development Asia: Enhancing Environmental Safeguards in Financial Intermediaries

The Asian Development Bank (ADB) has provided loans to financial intermediaries to support projects “whose individual financing requirements are not large enough to warrant the direct supervision of ADB.”




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Asian Development Blog: Four Ways to Strengthen Public Financial Management Systems and Drive Reform

Public financial management systems in Asia and the Pacific face significant challenges, with many indicators falling short of international standards. Fixing these issues requires a strategic, transparent, and carefully timed approach to reform.




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Asian Development Blog: Five Ways to Strengthen Public Financial Management Systems and Drive Reform

Public financial management systems in Asia and the Pacific face significant challenges, with many indicators falling short of international standards. Fixing these issues requires a strategic, transparent, and carefully timed approach to reform.




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Asian Development Blog: How to Advance Green, Inclusive Trade through E-commerce in Asia and the Pacific

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Development Asia: Empowering Communities: A Path to Resilience in Maldives

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Development Asia: Designing a Comprehensive Public Financial Management Reform Plan for the Philippines




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Development Asia: Advancing Uzbekistan’s Sustainable Development via PPP Road Projects

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Development Asia: Accelerating Climate Change Financing in the People’s Republic of China

Climate change financing is a key part of green finance, essential for driving investment towards climate action and achieving the People’s Republic of China’s (PRC) carbon peaking and neutrality goals.




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Development Asia: Enhancing Statistical Capabilities for Climate Action

Climate change poses an increasing threat to people and their livelihoods. Record heat waves, catastrophic floods, prolonged droughts, and other extreme weather events in Asia and the Pacific are becoming more frequent.




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Asian Development Blog: Why Nations Succeed: Three Ways to Enhance Capacity for Resilient Development

Building intellectual capacity and fostering learning partnerships enhance long-term capabilities in organizations and communities. Localized solutions rooted in indigenous knowledge and governance reforms empower societies to achieve resilient, sustainable development.




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Asian Development Blog: Empowering Women with Disabilities: Key Actions for Inclusive Sports in the Pacific

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Asian Development Blog: Three Ways Capital Markets Can Accelerate Climate Finance in Asia and the Pacific

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Broncos OLB Nik Bonitto has transformed into pass rushing star in Year 3: “He’s certainly made the leap”

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Broncos assistant head coach Mike Westhoff steps down due to health reasons

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Sharing the Fruit of Forestry Products: Indigenous People and Their Incomes in the Forestry Sector in East Kalimantan, Indonesia

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Does Exporting Raise Productivity? Evidence from Korean Microdata

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Export Growth and Industrial Policy: Lessons from the East Asian Miracle Experience

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Dollarization and the Multiple Currency Phenomenon in Lao PDR: Costs, Benefits and Policy Options

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Governance, Competitiveness, and Growth: The Challenges for Bangladesh

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Governance in Indonesia: Some Comments

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Rice Contract Farming in Lao PDR: Moving from Subsistence to Commercial Agriculture

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What is Special about Enterprise Performance in North-East People's Republic of China?

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Corporate Governance in the Republic of Korea and Its Implications for Firm Performance

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The Trend of Regional Income Disparity in the People's Republic of China

Regional disparities within and among Chinese provinces have declined, but are still a serious problem.



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Using ICT in Capacity Building for Poverty Reduction in Asia: Lessons Learned from the Microfinance Training of Trainers Course

Research on ICT and capacity building for poverty reduction, focusing on lessons learned from a distant learning course in microfinance.



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Finance and Development: Financing Township and Village Enterprises in the People's Republic of China

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Punjab govt orders closure of all schools as province tackles hazardous air quality

The government of Punjab on Tuesday — expanding on its previous order — closed all the educational institutions up to the higher secondary level in the province from tomorrow until the end of the week, shifting them to an online mode, as the province tackles the hazardous smog situation prevalent for the past few weeks.

The recent smog situation was declared a “calamity” in Punjab last month. Schools have been closed in the province’s main divisions — Lahore, Gujranwala, Faisalabad and Multan — until November 17 in a bid to lower children’s exposure to pollution.

Separately, the public has been barred from entering public parks, zoos, playgrounds, and museums until November 17 to reduce public exposure to smog.

A day ago, the United Nations Children’s Fund (Unicef) representative in Pakistan called for urgent and greater efforts to reduce air pollution, noting that over 11 million children under five years of age were exposed to smog in the worst affected districts of Punjab.

The province’s Environmental Protection Agency (EPA) said in a notification issued today, a copy of which is available with Dawn.com that “All the educational institutions […] up to higher secondary level shall remain closed and will shift to online mode with effect from Nov 13 within […] DG Khan, Bahawalpur, Sahiwal, Sargodha and Rawalpindi divisions […] till Nov 17.”

Punjab Education Minister Rana Sikandar Hayat also announced the closure of schools during a press conference today, saying that the “decision was made in light of the complaints received from the district.”

“This drastic decision had to be taken to protect children from the deadly effects,” he said, “There is a sense of educational loss, but the decision to close educational institutions is being taken out of compulsion.

“In view of the difficulties in online teaching, an alternative strategy is being quickly brought in,” the minister added.

He also appealed to the public to cooperate and do what was in their capacity to help the government deal with this issue.

50pc of govt offices to work online

Separately, all government offices were ordered to shift half of their workforce to online mode to reduce traffic load on roads to prevent the worsening of the smog situation due to vehicular emissions.

“The physical presence of human resource(s) of offices in your jurisdiction may kindly be reduced to 50pc by shifting them to online mode/work from home,” the EPA said in a separate notification issued today.

In the order issued on Tuesday, which is seen by Dawn.com, the Punjab EPA directed all the administrative secretaries, as well as heads of attached departments and semi-government/autonomous bodies, to reduce the physical presence of human resources by 50 per cent.

According to the notification, the situation was likely to prevail for a few weeks, adding that local pollution contributing factors, especially vehicular emissions, may further exacerbate the conditions.

“Hence, the situation warrants to specify safeguards to reduce the number of vehicles on roads in order to control air pollution, through preparation and implementation of contingency plans,” the notification said.

The EPA also called for inter-departmental meetings to be convened in an online mode unless the physical presence of participants was “extremely necessary”.

Bad-quality air aggravating pulmonary diseases: doctor

Speaking to Dawn.com, a pulmonologist at Multan’s Nishtar Hospital, Dr Nasir Javed, said that asthmatic patients, who were earlier stable, are now facing chronic health conditions due to the smog.

“[Due to the smog], asthma patients would start feeling inflation in their airways and it would become difficult for them to breathe smoothly,” he said. “Even medicines have stopped working properly to cure the problem.”

He further added that asthmatics and chronic smokers with chronic obstructive pulmonary disease (COPD) were at greater risk and were visiting the hospitals with exacerbation of their diseases.

“Air-Quality Index is directly proportional to the symptoms/ severity which one can suffer,” he said.

“Limited outdoor activity and hydration are the mainstays to avoiding respiratory issues as antibiotics were of no use.”

Smog to persist in major cities as weather conditions worsen: NDMA

Meanwhile, the National Disaster Management Authority (NDMA), in an advisory issued today, said that the smog situation was expected to persist across the urban centres in Punjab and Khyber Pakhtunkhwa throughout November and December due to high humidity, low wind speeds, and upper atmospheric pressure.

According to the advisory, as reported by the Associated Press of Pakistan (APP) the cities most likely to be affected by the worsening smog situation include Lahore, Faisalabad, Multan, Bahawalpur, Peshawar, Mardan, and Nowshera.

“The advisory highlights the rising smog levels in the affected areas, driven by the current weather conditions, and advises residents to avoid prolonged outdoor exposure and adopt protective measures to safeguard their health,” the *APP report said.

“[…] The National Emergency Operation Centre has been monitoring the current smog situation in Pakistan and surrounding regions.

According to the advisory, the team has access to advanced ground-based and space-based monitoring tools, enabling the analysis and projection of pollution emissions from various sources, including industry, transportation, and agriculture.

Precautionary measures

The NDMA advisory recommended the public adopt several measures to mitigate the effects of smog, such as avoiding unnecessary outdoor exposure during peak smog hours, especially in the morning, and wearing masks during outdoor activities, according to the APP.

“Staying hydrated, using dehumidifiers and air purifiers to improve indoor air quality, and adopting efficient transportation methods—like carpooling and eco-friendly driving, along with using COx and NOx filters—are also advised,” it said.




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United stance

BEYOND rhetoric, unity is rare within the Muslim world. Yet it was reassuring to see Muslim states speak with one voice at the extraordinary OIC-Arab League summit in Riyadh on Monday, specifically concerning the genocidal wars that Israel has unleashed in Palestine and Lebanon.

Although it would have been better if the Muslim bloc had announced practical measures to punish Israel and its supporters for their murder of tens of thousands of Palestinian and Lebanese civilians, in the current circumstances, even coming together on one platform to denounce the genocidal violence is an achievement. Saudi Crown Prince Mohammed bin Salman vowed to stand by “our brothers in Palestine and Lebanon”, while warning Israel to respect Iran’s sovereignty.

In view of the acrimony that has often marked ties between the kingdom and the Islamic republic, this show of solidarity is creditable. Prime Minister Shehbaz Sharif sought an arms embargo against Israel; indeed, such an embargo, as well as Muslim states’ freezing of economic and diplomatic ties with Israel, should have happened as soon as Tel Aviv began its butchery in Gaza. The summit also reiterated the need for Israel to vacate all occupied Arab land, including the held Palestinian territories and the Golan Heights.

As the Muslim-Arab bloc was pledging solidarity with Palestine in Riyadh, the Israelis were busy pouring cold water over any prospect of a sovereign Palestinian state. The new Israeli foreign minister said that statehood was not a “realistic” position, while Tel Aviv’s extremist finance minister has asserted that plans are ready to annex the occupied West Bank. This is a clear message that the Israelis are not ready for peace and Tel Aviv’s bloodthirsty, expansionist policies will continue.

Moreover, Donald Trump is assembling a mortifying line-up of pro-Israel, anti-Iran hawks to head positions in the UN and the State Department. It is safe to say that peace-making will not be a priority, unless this ‘peace’ entails total capitulation of the Arab side.

Exactly 50 years ago, Yasser Arafat told the world while speaking at the UN that he held forth an olive branch as well as a freedom fighter’s gun. “Do not let the olive branch fall from my hand,” Arafat warned. Sadly, in their arrogance, the Israelis have effectively cut off the hand holding the olive branch, which has left the Palestinians clasping only a gun.

What occurred on Oct 7, 2023, was the result of the Israelis repeatedly dismissing the olive branch. Today, Gaza is a massive graveyard, Lebanon is on fire and the entire Middle East is on the brink of a conflagration. The only solution is for Israel to stop its slaughter, and recognise the reality that Palestine cannot be erased.

Published in Dawn, November 13th, 2024




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Debt cannot become acceptable new normal in climate financing: PM Shehbaz

Prime Minister Shehbaz Sharif on Tuesday said that debt cannot become the “acceptable new normal” in climate financing, as he addressed the challenges faced by developing countries within the global climate finance framework.

His statement came during a Climate Finance Round Table Conference organised by Pakistan on the sidelines of the two-day World Leaders Climate Action Summit, also known as COP29, currently being held in Azerbaijan’s capital of Baku.

“We stand at a crucial threshold where global climate finance framework must be redefined to effectively meet the needs of vulnerable nations,” PM Shehbaz said.

He explained that financing in the form of loans increases the debt of developing nations and pushes them towards “mounting debt traps” which he referred to as “death traps”.

He added, “Debt cannot become the acceptable new normal in climate financing which is why we must resume focus on non-debt financing solutions enabling countries to fund climate initiatives.”

“Despite years of promises and commitments, the gaps are growing, leading to aggregate barriers in achieving objectives of the UN Framework Convention on Climate Change (UNFCCC).”

PM Shehbaz called climate financing an “urgent need of the hour”, stating that developing countries need to deliver Nationally Determined Contributions (NDCs) and “need an estimated $6.8 trillion by 2030 to implement less than half of their current NDCs.”

The prime minister further urged donor countries to “fulfil their commitment” which is 4.7 per cent of their gross national product (GNP) and capitalise on existing climate funds.

“One such commitment is a $100bn annual climate pledge established a decade ago at COP15 [which] is now reported by OECD to have reached only $160bn,” he said.

Prime Minister Shehbaz Sharif, flanked by Turkish President Tayyip Erdogan and Britain’s Prime Minister Keir Starmer, attends the Opening Ceremony of the United Nations climate change conference COP29 in Baku, Azerbaijan on Nov 12, 2024. — Reuters

PM Shehbaz said that Pakistan can relate to the “agony and pain of other vulnerable countries”, highlighting how the country faced two devastating floods.

“In 2022, one-third of Pakistan was under water and the country had to repurpose all development and climate funds for financing basic relief and humanitarian efforts,” he said.

Pakistan is ranked among the top 10 most climate-vulnerable countries, according to the Global Climate Risk Index 2021. It has faced increasingly frequent and severe weather events, such as unprecedented floods, intense monsoon rains, devastating heat waves, rapid glacial melting and glacial lake outburst floods.

Pakistan witnessed devastating floods during the 2022 monsoon season, induced by climate change, resulting in the loss of at least 1,700 lives.

With 33 million people affected and swathes of agricultural land washed away, the damage incurred losses worth $30 billion, according to government estimates.

In June 2024, a heat wave brought record-high temperatures, severely impacting public health and agriculture.

Participating world leaders and delegates pose for a family photo during the United Nations Climate Change Conference (COP29) in Baku on Nov 12, 2024. — AFP

While emphasising transparency and coordination in financial commitments made to developing countries, he stated that Pakistan alongside other developing countries, calls for stronger more equitable climate finance mechanisms under the UNFCCC.

He reiterated the pertinent need for reform of international financial architecture saying that “now is the time to build up on the momentum for international financial reforms” so that no nation is left behind in the global response to climate change.

PM to highlight ‘balanced and ambitious’ climate action

According to the Foreign Office, several high-level events and roundtable discussions hosted by Pakistan will also take place at the Pakistan Pavilion during COP29.

It added that at COP29, Pakistan will call for “balanced and ambitious progress on all issues such as loss and damage, adaptation, mitigation and means of implementation”.

“It will seek predictable financing to address developing countries’ climate goals. Pakistan will also underscore the historical responsibility and the principle of Equity and Common but Differentiated Responsibility and call on developed nations to undertake deeper emission cuts.”

PM Shehbaz was warmly received by Azerbaijan President Ilham Aliyev and UN Secretary-General António Guterres upon his arrival at the summit venue today, state-run Radio Pakistan reported.

PM Shehbaz Sharif is received by Azerbaijan President Ilham Aliyev and UN Secretary-General António Guterres as he arrives at the venue to attend COP29 in Baku on November 12. — Radio Pakistan

The first day of the Climate Action Summit will feature statements from various heads of states, beginning from 3pm Pakistan time.

Speakers include the United Kingdom’s PM Keir Starmer, Saudi Arabia’s Crown Prince Mohammed bin Salman, Turkiye President Recep Tayyip Erdoğan and Ukraine President Volodymyr Zelenskyy.

Among those scheduled to address the high-level meeting tomorrow, besides PM Shehbaz, are Bangladesh leader Muhammad Yunus and Russia’s PM Mikhail Mishustin.

PM Shehbaz is listed as the 37th speaker out of 47 leaders during the session scheduled from 10am to 6pm (Pakistan time).

The prime minister will also participate in a high-level event ‘Glaciers 2025: Actions for Glaciers’ organised by Tajikistan President Emomali Rahmon on the protection of glaciers.

PM Shehbaz will also hold separate meetings with the prime ministers of Denmark and the Czech Republic, who are also attending COP-29, Radio Pakistan stated.

PM meets world leaders

On the sidelines of COP29, PM Shehbaz interacted with UAE President Sheikh Mohammed bin Zayed Al Nahyan and discussed cooperation on climate change and matters of mutual interest, Radio Pakistan reported.

The premier also met with PM Starmer, where the two discussed enhancing Pakistan-UK cooperation.

He also met with Turkish President Recep Tayyip Erdogan and his wife Emine Erdogan, where they discussed environmental pollution as well as matters of mutual interest between the two friendly nations, the report added.

In his interactions with Nepal’s President Ramchandra Paudel and Bangladesh’s Yunus, PM Shehbaz discussed growing temperatures, the threat of rising sea levels, and forest conservation in South Asia.

Kazakhstan President Kassym-Jomart Tokayev and PM Shehbaz explored strengthening bilateral relations as well as expanding regional connectivity.

In his meetings with Uzbekistan President Shavkat Mirziyoyev and Tajikistan’s Rahmon, the leaders spoke about the conservation of glaciers and water resources in Central Asian countries and Pakistan.

They also exchanged views on expanding communication links among Pakistan, Tajikistan and Uzbekistan, Radio Pakistan highlighted.

World leaders meet for climate talks, but big names missing

Dozens of world leaders convene in Azerbaijan for COP29 but many big names are skipping the UN climate talks where the impact of Donald Trump’s election victory is keenly felt.

UK’s Starmer will unveil an “ambitious” update to the UK’s climate goals later today, and said he wanted his country “to show leadership on the climate challenge.”

Joe Biden, Xi Jinping, Narendra Modi and Emmanuel Macron are among G20 leaders missing the event, where uncertainty over future US unity on climate action hung over the opening day.

“It’s not an ideal situation,” acknowledged Steven Guilbeault, Canada’s environment minister. “But in 30 years of COP, it’s not the first time that we’ve faced obstacles,” he told AFP.

“Certainly, everything is still possible.”

Washington’s top climate envoy John Podesta is seeking to reassure countries in Baku that Trump’s re-election will not end US efforts on global warming, even if the issue will be “on the back burner”.

But despite calls for global cooperation, the opening day got off to a rocky start, with feuds over the official agenda delaying by hours the start of formal proceedings in the stadium venue near the Caspian Sea.

“This will be a tough COP,” said Fernanda Carvalho, global climate and energy policy lead at WWF.

“Countries are divided. There is a lack of trust,” she told AFP, and divisions over climate finance “will be reflected in every room of those negotiations.”




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Constitutional bench to start hearing cases from Nov 14: Supreme Court

The Supreme Court (SC) on Tuesday announced that the recently established constitutional bench will start hearing cases on November 14 and 15.

Earlier, the SC constituted a three-judge committee to fix cases, issue court rosters, form benches, and decide weekly caseload for its recently established constitutional bench.

The committee held a meeting today which was chaired by Justice Aminud Din Khan (head of the constitutional bench) and attended by Justice Jamal Khan Mandokhail and Justice Muhammad Ali Mazhar, who participated through a telephone call from Karachi.

The SC said in a press release, a copy of which is available with Dawn.com, that the purpose of the meeting was to discuss matters for the formation of the constitutional bench.

During the meeting, the committee was briefed by the court’s registrar’s office regarding the pending constitutional cases, the statement said adding, “[The] committee resolved that priority shall be accorded to the oldest cases.”

On Nov 5, the Judicial Commission of Pakistan (JCP), in its maiden session, had picked Justice Amin as head of the constitutional bench by a seven-to-five majority.

Chaired by Chief Jus­tice of Pakistan (CJP) Jus­tice Yahya Afridi, the reconstituted JCP for­m­ed a seven-member con­stitutional bench, inc­­luding Justices Ami­nud Din Khan, Jamal Khan Mandokhail, Muha­m­mad Ali Mazhar, Ayesha A. Malik, Hassan Azhar Rizvi, Musarrat Hilali and Naeem Akhtar Afghan.

Today’s press release mentioned that Justice Ayesha Malik will not be available on Nov 14 and 15 and “a bench comprising all available Judges shall be constituted to proceed with cases on these dates.”

The SC Registrar Muh­ammad Salim Khan released the court roster of a six-member constitutional bench which will begin hearing cases at 9:30am on Nov 14.

The bench will include Justice Jamal Khan Mandokhail, Justice Muhammad Ali Mazhar, Justice Hasan Azhar Rizvi, Justice Musarrat Hilali and Justice Naeem Akhtar Afghan.

The SC directed the Registrar to schedule cases for hearing before the bench.

The next meeting of the committee will be held on Nov 13 at 12:30pm after Justice Muhammad Ali Mazhar arrives in Islamabad.




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Iran, Russia link bank card systems to counter sanctions

TEHRAN: Iranian bank cards can now be used in Russia, state television reported, as the two countries linked their banking systems in the latest bid to counteract sanctions.

Iranian banks have been excluded since 2018 from the SWIFT international financial messaging service, which governs the vast majority of transactions worldwide.

The move is part of a raft of sanctions that were re-imposed on Iran after the United States withdrew from a landmark 2015 nuclear deal.

Iranian bank cards can now be used in Russia, state television channel IRINN said on Monday, showing the withdrawal of money using an Iranian bank card from an ATM in Russia.

Iranians can now use their cards in Russia to pay for in-store purchases

The operation was made possible by connecting Iran’s interbank network Shetab to its Russian equivalent Mir, the channel said.

Iranians can currently withdraw money in Russia, and will in the future be able to use their cards to pay for in-store purchases, it added.

“The plan is also going to be implemented in other countries that have a wide range of financial and social interactions with Iran, for example Iraq, Afghanistan and Turkiye,” it said.

Both Iran and Russia have sought to counteract the effects of sanctions on their economies.

Since the start of Russia’s invasion of Ukraine in 2022, Moscow has faced mounting sanctions, and its ties with Tehran have grown closer in parallel.

Ukraine and its Western allies have since the start of the conflict accused Iran of supplying Russia with both drones and missiles for use in the war.

Tehran and Moscow signed an agreement in June to strengthen their cooperation in the banking sector.

In the future, Russians will also be able to use their bank cards in Iran, IRINN said, without specifying when.

Russia has been pushing for the creation of an international payment platform as an alternative to the SWIFT service, from which key Russian banks have also been excluded since 2022.

Published in Dawn, November 13th, 2024




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