Finance Minister Muhammad Aurangzeb urges faster climate funding and highlights digital innovation and tokenisation at UNGA in New York.
NEW YORK: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has called for faster access to international climate finance and greater use of digital innovation to address economic and development challenges during a series of high-level engagements on the sidelines of the United Nations General Assembly (UNGA).
Aurangzeb held several meetings and participated in international forums in New York on the first day of his visit to the United States during the UNGA High-Level Week of the 81st Session of the United Nations General Assembly.
During his engagements, the finance minister highlighted Pakistan’s vulnerability to climate-related disasters, the need for stronger disaster-response mechanisms, opportunities arising from digital transformation and tokenisation, and the importance of converting climate commitments into practical and investable projects.
Aurangzeb urges faster climate finance
Speaking at the World Economic Forum’s “Financing Planet and Prosperity” meeting, Aurangzeb highlighted Pakistan’s acute exposure to climate-related disasters, particularly devastating floods that have caused widespread disruption to infrastructure and communities.
He outlined the government’s efforts to strengthen disaster-response frameworks, improve early-warning systems and develop costed climate-investment plans.
Aurangzeb stressed that while international assistance remained essential, Pakistan also needed to mobilise domestic resources and build adequate fiscal buffers to respond effectively to future climate shocks.
The finance minister also referred to efforts to mobilise financing through the World Bank, Asian Development Bank and international capital markets for disaster relief, climate adaptation and reconstruction.
At the same time, he urged international climate-finance institutions to accelerate access to funding.
He called on the Green Climate Fund and Loss and Damage Fund to simplify their procedures and speed up the disbursement of resources to countries vulnerable to climate change.
Finance minister highlights potential of tokenisation
Digital transformation and financial innovation were another major focus of Aurangzeb’s engagements in New York.
Speaking at “United Nations Digital Cooperation Day 2026 – Blockchain and the Tokenized Future: Sovereign Choices and Safeguards for Next-Gen DPI”, the finance minister highlighted Pakistan’s progress towards establishing a regulated framework for virtual assets.
He said tokenisation should be directed towards addressing tangible economic challenges rather than being treated simply as a technological innovation.
According to Aurangzeb, potential applications include reducing the cost of remittances, expanding financing opportunities for small and medium-sized enterprises, supporting sovereign debt markets and widening access to financial services.
He stressed that private-sector innovation should operate alongside robust government safeguards, inclusive digital infrastructure and stronger international cooperation.
The minister also emphasised that emerging economies should have a meaningful role in developing international standards governing new digital technologies and financial systems.
Pakistan backs COP31 Action Agenda
Aurangzeb also participated in the launch of the COP31 Action Agenda, where he expressed Pakistan’s full support for the initiative and said it was closely aligned with the country’s national climate priorities and NDC 3.0.
He reiterated Pakistan’s vulnerability to climate change and highlighted several shared priorities, including clean energy and electrification, renewable-energy expansion, energy-efficient buildings and climate-resilient urban development.
Other areas identified by the minister included climate education and public awareness, food security and climate-resilient agriculture.
Welcoming the proposed Climate Implementation Bridge, Aurangzeb described it as a mechanism capable of converting national climate commitments into investable and bankable projects.
He said the principal challenge was no longer simply developing climate plans but ensuring their effective implementation.
The finance minister also welcomed the agenda’s clearly defined action points and key performance indicators, describing the approach as practical, impact-oriented and focused on measurable outcomes.
Aurangzeb’s engagements in New York underscored Pakistan’s efforts to link climate resilience, development financing and digital innovation with concrete investment opportunities and stronger international cooperation.