Page 27 - TEXtalks January/February 2022

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UN acknowledges

Net Zero Pakistan in the

Race to the Zero campaign

UN acknowledges and announced Net Zero raise their ambition on climate action significantly. A
Pakistan as an official Accelerator of the UN-backed common understanding is that:
Race to the Zero campaign, a significant • Climate change poses a significant challenge to
achievement for Pakistan to fight against climate human wellbeing, and the scientific community has AD
change. Net Zero Pakistan was launched in August established the role of anthropogenic greenhouse
2021, and it is the first region-wide initiative from the gas (GHG) emissions in accelerating this
Global South to be recognized under this platform. phenomenon.
Net Zero Pakistan is a national collaboration • The latest scientific assessment from the IPCC
between pioneering companies, public institutions, confirms that limiting global warming to 1.5°C above
and sectoral experts to deliver the goal of net-zero pre-industrial levels will require GHG emissions to
carbon for Pakistan by 2050. The coalition will drop to net-zero by 2050.
establish the roadmap and framework through which • The industry is a vital stakeholder to reach this
Pakistan’s private sector can accelerate its net-zero target, with a large share of GHG emissions
sustainability transition and deliver this net-zero goal. originating from industrial sources.
• Companies worldwide are facing growing
The signatories include AGI Denim, Al-Karam Textile, pressure from customers, investors, and regulators
Al-Karam Towel, Al-Rahim Textile, Artistic Milliners, to lead the net-zero transition by accelerating their
Crescent Bahuman, Interloop, Gohar Textile, Gul climate agenda.
Ahmed, Liberty Mills, Lucky Textile, Mahmood • Pakistan’s companies are not insulated from this
Group, Masood Roomi, Midas Safety, Sadaqat and can only remain globally competitive by
Limited, Sapphire Finishing, Sapphire Textile, spearheading the country’s net-zero transition.
Siddiqsons, Soorty Enterprises, Tetra Pak, US
Apparel, and Yunus Textile. The coalition aims to This is a great initiative, and more and more
mobilize $1 billion of catalytic finance to drive industries should be encouraged to join Net Zero
industrial decarbonization, enable companies to Pakistan Coalition. Rising pollution levels in
demonstrate their sustainability credentials to global Pakistan’s industrial areas pose a severe threat to
buyers, and nurture a suitable environment for human life. Therefore, such initiatives are the need
effective climate policy action. of the hour, and recognization from the UN could
further increase the interest of the government and
As corporate leaders, Pakistan recognizes the other stakeholders to expand its members for a
urgent business need for Pakistan’s companies to more promising outcome.

January/February 2022