The Overseas Investors Chamber of Commerce and Industry (OICCI) has launched an insightful report titled “Pakistan’s Climate Crossroads: Private Sector Solutions to Pakistan’s Climate Challenges”.
Commenting on the report, OICCI President Rehan Shaikh stated, “Given the climate vulnerabilities threatening Pakistan, business growth can no longer come at the cost of the environment. We need to link returns on private sector investments with sustainability and consider the green transition as a pathway to creating new jobs and livelihoods.”
The report underscores key elements of Pakistan’s climate strategy, including climate action plans, needs assessment, vulnerability analysis, resilience, and climate mitigation and adaptation strategies. The private sector is identified as crucial in advancing climate solutions.
During the report’s launch, Sustainable Development Policy Institute (SDPI) Executive Director and International Advisory Committee Member of COP29, Dr. Abid Suleri, remarked, “Addressing Pakistan’s climate challenges requireds urgent and collective action.”
He emphasized the need to shift perceptions about the private sector, arguing that it should be viewed as part of the solution rather than part of the problem, given its pivotal role in driving sustainable solutions that can secure Pakistan’s future.
The OICCI Climate Report also discusses how corporations can integrate climate actions into their business operations by adopting sustainable supply chain management, adhering to ESG criteria, promoting investment in carbon markets, and fostering public-private partnerships for green development. The report highlights initiatives by OICCI members in these areas.
“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,” said OICCI Managing Committee member Andrew Bailey. “The country’s focus should be on investing in ideology, research, and long-term solutions rather than on quick fixes,” he added.
With a knowledge partnership with the SDPI, the report builds on insights from the OICCI 2nd Pakistan Climate Conference held in 2023. The conference featured global climate experts, policymakers, and corporate decision-makers, including former finance minister Dr. Shamshad Akhtar, SECP Chairman Akif Saeed, Group CEO of Standard Chartered Bank Bill Winters, WWF President Adil Najam, and Managing Director of GuarantCo Philip Skinner.
