Leading experts and stakeholders in the renewable energy and climate finance space have emphasized conservation of energy by adopting energy-efficiency and climate smart housing techniques.
While participating in a webinar, they deliberated on the challenges and opportunities in this emerging space. Pakistan's energy demand in 2021 was 29,435MW, whereas the supply after line losses in the same period was 26,083MW.
The webinar was organized by Karandaaz, a non-profit NGO working in Sustainable Energy and Economic Development (SEED).
According to Ministry of Energy, Power Division's 2021 figures, Pakistan's energy mix remained heavily reliant on non-renewable sources with a meager share of renewable sources such as solar (400MW), wind (1235MW), and biogas (364MW) despite their vast potential.
Dr Shamshad Akhtar, Chairperson Karandaaz said, 'Karandaaz's research tabled for deliberation offers perspectives on Pakistan's key initiatives, which if pursued effectively, have potential to be a game changer in decarbonization subject to expeditious resolution of sector issues and challenges by fixing the enabling sector and regulatory policy frameworks, developing public private partnership to leverage private capital with appropriate risk mitigation and management frameworks.
Waqasul Hasan, CEO Karandaaz said, 'Pakistan remains among the group of countries most vulnerable to climate change. The ND-GAIN Index ranks Pakistan at 152nd among 181 countries, based on its vulnerability to climate change and readiness to improve its resilience. Through Karandaaz's Green Initiative, we have also made several investments in the renewable energy domain and launched a challenge fund as well. We are particularly proud of an investment in a commercial green building in Karachi which will fulfill criteria of reputable accreditations.
This investment can potentially be converted into Pakistan's first Green REIT. So far, Karandaaz has supported 10.6MW capacity of clean energy in textile, SME and household segments through its investments in renewable energy.'
Ms Annabel Gerry, Development Director of the UK's FCDO said, 'The UK has cut its own emissions by 43% since 1990, which is the fastest among the G-7 countries."
"The UK is also at the forefront of leading on international climate cooperation and in 2019, the UK Government announced plans to double its provision of international climate finance to £11.6 billion over the period 2021-2025 to support developing countries respond to challenges of climate change," said Gerry.