Net Zero Research Challenge -Concluding Event

Climate Change Vulnerability Affecting Pakistan: Younus Dagha

KARACHI: Younus Dagha, Chairman FPCCI Policy Advisory Board, has cautioned that Pakistan, despite being the fifth populous country, is highly vulnerable to climate change and is ranked 8th in the world. He added that although Pakistan has a large number of policies and even ratified global policies, the fact is that policies are not enforced or implemented. Hence the vulnerability factor is getting ominous for the country. He was speaking as Chief Guest at Global Compact Network Pakistan Net Zero Research Challenge 2023 in Karachi.

Younus Dagha further added that Pakistan is facing energy security, food security, and climate change mega issues. He advocated an Integrated Energy Plan and that a strategy must be put in action to drastically reduce dependence on fossil fuel.

He also said that huge Global Funding is available including a Green Climate Fund, but Pakistan is not taking advantage. He said Pakistan has applied for less than $200 million while even a smaller country, Sri Lanka, has received $600 million.

Mr. Dagha moreover called for extensive research on the sectors and processes that impact climate change and it is crucial that data is collected and analyzed, for example, on Net Zero Emissions. It is also imperative that SMEs are also involved and helped to reduce carbon footprint in their enterprises.

Younus Dagha offered that FPCCI Policy Advisory Board and Global Compact Network Pakistan must sign a MOU to collaborate and work together to achieve the objectives of awareness raising, sensitizing, and providing focused solutions.

Majyd Aziz, President Global Compact Network Pakistan, in his welcome address, stated that the Research Challenge project was a rare step where two teams of four students each from IBA and NED University were each assigned to visit one of four corporations, Artistic Milliners, AGI Denim, PARCO, and Roshan Packages, to prepare detailed case studies on the progress and future initiatives of each company in achieving Net Zero Emissions by 2050. He said that a strong linkage between Academia and Corporate Sector is significantly important for sustainable and impactful businesses.

Majyd Aziz further added that for Pakistan’s private sector to move towards Net Zero transition and to start contributing towards a low carbon economy, the essential actions are required. First to make a commitment towards Net Zero targets and provide transparent reporting. Secondly, to gain capacity building and technical support for this transition. Third, access to financing to implement long-term projects for moving towards renewable energy, carbon capture storage and utilization and integration in the value chain.

He added that the GCNP project would become the baseline for such future long-term projects. There is a crucial need to promote strategies for emission reduction and removal and that it would require mass level awareness campaigns at the grassroots level and to implement these strategies.

Majyd Aziz called upon FPCCI which is the apex body of over 200 Chambers and Associations to sensitize its members and create awareness raising. He advised private sector to have a common approach and consider implementation as an investment and not an added cost. He warned that non-implementation would negatively impact Pakistani exports if the conditionalities of EU GSP Plus, UN Global Compact, ILO International Labor Standards, and of Global buyers are not complied.

A Panel Discussion was also held and participated by Ms Nazish Shekha of Pakistan Business Council and Sanaullah Khan of GIZ Germany and was moderated by GCNP Consultant Debaaj Abidi. The event was largely participated by representatives from Corporate Sector and students and faculty from Academia.