Sunday, June 1, 2025

Sherry highlights widening Climate Finance gap at NEXT Milan Forum

“The Clock Is Ticking Fast for the Global South”

Milan: — At the prestigious NEXT Milan Forum, jointly hosted by Bocconi University and the Italian Institute for International Political Studies (ISPI), Senator Sherry Rehman, Chair of the Senate Standing Committee on Climate Change and Environmental Coordination, delivered compelling remarks at the plenary session titled “Only One Planet: Feeding Sustainability”.
Speaking to an audience of policymakers, academics, business leaders, and climate advocates, Senator Rehman described the Global South’s experience as one defined by unmet promises and growing risks.

“Climate financing is ultimately about power,” she said. “Countries of the Global South are consistently told that financing will be delivered — only to be told later that it’s ‘not available.’ While we are reassured in negotiations, emissions are still not going down. There are no hard borders for climate change, yet the burden continues to fall hardest on those who contributed least to the crisis.”

Senator Rehman shared stark warnings about the pace and scale of climate impacts already affecting frontline countries. Highlighting the dangerous heatwaves sweeping through the Asia-Pacific region, she pointed out that southern Pakistan recorded a staggering 50°C in April 2025 — the hottest April temperature on record.

“This is no longer a future threat — it is a present and accelerating emergency. The frameworks and financial mechanisms we’ve built to respond are being outpaced by the speed of climate change. And while discussions continue, so do the disasters,” she warned.

Senator Rehman criticized the failure to deliver adequate and timely climate finance, especially for adaptation and loss and damage. She emphasized that climate finance pledges often remain unfulfilled, undermining trust and leaving vulnerable nations without the tools they need to prepare, adapt, and protect their populations.

“We are not short of talk. We are short of delivery. If countries don’t work with speed and seriousness to close the climate financing gap, every climate goal we’ve set — from adaptation to resilience to mitigation — is going to fall off the charts.”

Senator Rehman pointed to a deep inequity at the heart of global climate politics — one where responsibility and power are unequally distributed, while the impacts of inaction are shared disproportionately.

“This is a race against time for countries in Global South like Pakistan. Our food systems are stressed. Our water security is collapsing. Our communities are forced to live through climate shocks that should have never been theirs to bear. We are living with climate apartheid,” she stated.

Despite the dire warnings, Senator Rehman reminded the audience that the global climate movement must still be driven by hope, action, and collective responsibility. She called on universities, businesses, and communities to become agents of change at every level — from the grassroots to the global.

“Sustainability may no longer be reversible in the traditional sense — the world has already adopted new ways of living, and the impacts of climate change have been egregious. Climate action and responsibility must be taken at both macro and micro levels.”

“While we may not be able to reverse the clock,” she concluded, “hope is the pivot on which human action still turns. It must remain central — especially in every conversation we have. Because the clock is ticking fast, and for countries in the Global South, our food security, water security, and the stability of our very livelihoods are under immediate threat.”

Senator Rehman’s participation at the NEXT Milan Forum underscores Pakistan’s growing role as a voice for the Global South and a key advocate for climate justice. Her remarks added weight to the global debate on sustainability and reminded international stakeholders that the time for meaningful, equitable climate finance is not tomorrow — it is now.

Field Correspondent Sohail Majeed
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Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.

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