UN acknowledges and announced Net Zero Pakistan as an official Accelerator of the UN-backed Race to the Zero campaign, a significant achievement for Pakistan to fight against climate change. Net Zero Pakistan was launched in August 2021, and it is the first region-wide initiative from the Global South to be recognized under this platform. Net Zero Pakistan is a national collaboration between pioneering companies, public institutions, and sectoral experts to deliver the goal of net-zero carbon for Pakistan by 2050.
The coalition will establish the roadmap and framework through which Pakistan’s private sector can accelerate its sustainability transition and deliver this net-zero goal.
The signatories include AGI Denim, Al-Karam Textile, Al-Karam Towel, Al-Rahim Textile, Artistic Milliners, Crescent Bahuman, Interloop, Gohar Textile, Gul Ahmed, Liberty Mills, Lucky Textile, Mahmood Group, Masood Roomi, Midas Safety, Sadaqat Limited, Sapphire Finishing, Sapphire Textile, Siddiqsons, Soorty Enterprises, Tetra Pak, US Apparel, and Yunus Textile. The coalition aims to mobilize $1 billion of catalytic finance to drive industrial decarbonization, enable companies to demonstrate their sustainability credentials to global buyers, and nurture a suitable environment for effective climate policy action.
Talha Khan, the Executive Director of Pakistan Environment Trust (PET), said, “We are thrilled about our partnership with Race to Zero and proud to be moving towards a resilient zero-carbon recovery. Being a part of Race to Zero will give the member companies of Net Zero Pakistan access to a global network of sustainability leaders.
It is an opportunity to share knowledge and build alliances at a global scale.”
THE CHALLENGE
As corporate leaders, Pakistan recognizes the urgent business need for Pakistan’s companies to raise their ambition on climate action significantly. A common understanding is that:
• Climate change poses a significant challenge to human wellbeing, and the scientific community has established the role of anthropogenic greenhouse gas (GHG) emissions in accelerating this phenomenon.
• The latest scientific assessment from the IPCC confirms that limiting global warming to 1.
5°C above pre-industrial levels will require GHG emissions to drop to net-zero by 2050. • The industry is a vital stakeholder to reach this net-zero target, with a large share of GHG emissions originating from industrial sources.
• Companies worldwide are facing growing pressure from customers, investors, and regulators to lead the net-zero transition by accelerating their climate agenda.
• Pakistan’s companies are not insulated from this and can only remain globally competitive by spearheading the country’s net-zero transition.
Net Zero Pakistan’s COMMITMENT
Net Zero Pakistan commit to:
• SET NET ZERO TARGETS for 2050 in which the activities within our value chains will result in no net impact on the Earth’s climate from GHG emissions in line with the Business Ambition 1.5°C of the Science-Based Targets initiative.
• MEASURE AND DISCLOSE transparently our levels and sources of GHG emissions and environmental footprint periodic and the progress towards interim targets or milestones aligned with the GHG Protocol.
• DECARBONISE VALUE CHAINS entails investing in low-carbon innovations and technologies that lower GHG emissions and enhance environmental sustainability.
ADVOCATE FOR CLIMATE ACTION by coordinating an enabling policy framework for decarbonization and by representing Pakistan’s private sector at major domestic and international platforms, including the UNFCCC’s Race to Zero.
• This is a great initiative, and more and more industries should be encouraged to join Net Zero Pakistan Coalition. Rising pollution levels in Pakistan’s industrial areas pose a severe threat to human life. Therefore, such initiatives are the need of the hour, and recognition from the UN could further increase the interest of the government and other stakeholders to expand its members for a more promising outcome.
