ISLAMABAD: Ambassador of Sweden to Pakistan, Alexandra Berg von Linde, informed Federal Minister for Climate Change and Environmental Coordination Dr Musadik Malik that Skandinaviska Enskilda Banken (SEB), a Swedish financial institution engaged in green lending, is exploring the possibility of establishing a multi-country climate investment fund in Pakistan.
During a meeting with the minister in Islamabad on Tuesday, the ambassador said the proposed fund would focus on projects related to water, infrastructure and energy, aimed at supporting climate-resilient development and sustainable investments.
She explained that the initiative seeks to help local companies reduce risks associated with climate-related investments while promoting environmentally sustainable development. The fund is also expected to collaborate with the Green Climate Fund (GCF) to mobilise climate finance for projects in Pakistan.
The ambassador requested the ministry’s support and coordination in this regard, noting that the Ministry of Climate Change serves as Pakistan’s National Designated Authority for the GCF.
Dr Musadik Malik welcomed the proposal and expressed interest in exploring the initiative further.
He suggested arranging a detailed meeting between representatives of SEB and the ministry in the coming week to discuss the proposal and potential areas of collaboration.
The meeting also discussed broader climate cooperation and the evolving global climate situation.
The ambassador congratulated the minister on his invitation to participate in the Arctic Circle Assembly, describing it as recognition of the growing importance of international collaboration on climate challenges.
Dr Malik emphasised that climate change and glacial melt require joint responses, particularly among countries in the Arctic region and the Himalayan range that are directly affected by the issue.
He said Pakistan offers significant opportunities for climate-focused investments, particularly in the water, infrastructure and energy sectors.
