Financing climate resilience in Gilgit-Baltistan
Gilgit-Baltistan is strategically located at the confluence of three of the world’s most formidable mountain ranges: the Himalayas, the Karakoram, and the Hindu Kush. This region is home to over 7,000 glaciers, earning it the title of the “Third Pole”. These glaciers, with almost 75 per cent of the total water supply in the country, serve as a vital hydrological resource for Pakistan.
Beyond their role in sustaining freshwater reserves in the country, glacial meltwater also supports significant hydraulic energy production; hence, this region has a decisive role in both providing water security and producing renewable energy.
However, as a consequence of the changing climate, these glaciers are increasingly susceptible to multiple extreme climatic events, including flash floods and Glacial Lake Outburst Floods (GLOFs), etc. Almost 30 GLOF-prone sites identified by the United Nations Development Programme (UNDP) indicate GB’s heightened vulnerability to climate-induced disasters.
Two years back, when Pakistan experienced the most catastrophic floods countrywide, GB was also impacted severely by flash floods and GLOFs. According to the GB Disaster Management Authority, this region witnessed more than 110 flash floods. In the aftermath, the UNDP post-flood assessment report revealed that almost 8,543 kanals of land were inundated, 32 powerhouses were damaged, 22 lives were lost and 1,211 houses were........
© Dawn Business
