Despite contributing just 0.9% to global greenhouse gas emissions, Pakistan is among the top five most climate-affected nations. This stark reality highlights the urgency of robust climate action plans and the crucial role of the private sector.In response, the Overseas Investors Chamber of Commerce and Industry (OICCI) has released a comprehensive report titled “Pakistan’s Climate Crossroads: Private Sector Solutions to Pakistan’s Climate Challenges.” OICCI President RehanShaikh stressed the need for aligning business growth with environmental sustainability, stating,
“Given the climate vulnerabilities threatening Pakistan, business growth cannot come at the cost of the climate anymore. We need to link returns on private sector investments with sustainability and consider the green transition to provide new jobs and livelihoods.”
The report outlines essential elements of Pakistan’s climate strategy, including action plans, vulnerability assessments, and both mitigation and adaptation strategies. It underscores the private sector’s pivotal role in advancing these climate solutions. DrAbidSuleri, Executive Director of the Sustainable Development Policy Institute (SDPI) and an International Advisory Committee Member for COP29, emphasized the necessity of collective action. “Addressing Pakistan’s climate challenges requires urgent but collective action,” he noted, advocating for a shift in perception to view the private sector as a solution provider rather than a contributor to the problem. The OICCI Climate Report explores how businesses can integrate climate action into their operations through sustainable supply chain management, adherence to ESG criteria, investment in carbon markets, and fostering public-private partnerships for green development. It also highlights initiatives by OICCI members in these areas. Andrew Bailey, a member of the OICCI Managing Committee, added, “As Pakistan is among the five most vulnerable countries, there is an urgent need to focus on sustainable solutions that consider local contexts and materials. The focus should be on investing in ideology, research, and long-term solutions rather than on quick fixes.” The report, developed in collaboration with SDPI and building on insights from the OICCI 2nd Pakistan Climate Conference held in 2023, emphasizes the importance of continued public-private collaboration and international support, including commitments made at COP28 in Dubai, to advance Pakistan’s climate goals and achieve Net Zero emissions by 2050.
