Summit highlights urgent climate actions

Leaders focus on sustainable energy, decarbonisation, and nature-based solutions

KARACHI:

Pakistan's Future Summit (TFS) 2024, a premier corporate event, opened in Karachi with prominent leaders addressing critical climate solutions under the theme, "What Matters Now." Organised by Unity Foods Limited and Nutshell Conferences Group, in partnership with Faysal Bank and OICCI, TFS assembled global and local experts to explore strategies for sustainable growth, resilience, and environmental impact.

Sadia Dada, Chief Distribution & Marketing Officer of K-Electric (KE), outlined the company's target of a 20% reduction in Scope 1 emissions by 2030. "Our journey to sustainability requires more than words; it's about action," she said, noting KE's recent 10% reduction in Scope 1 emissions, equivalent to 0.8 million metric tonnes. KE plans to achieve 30% renewable energy by 2030 without increasing reliance on imported fuels. Highlighting transparency, Dada shared that KE was the first Pakistani company to publish its gender pay-gap ratio, achieving parity within a year.

Panelist Ayla Majid, Global Deputy President of ACCA, emphasised the need for a strategic approach to energy transition, noting that high energy costs affect all sectors. Highlighting green hydrogen's potential to meet 12% of global energy needs by 2050, she advocated for policy stability, cross-border collaboration, and robust infrastructure to position Pakistan as a sustainable fuel hub.

Philip Skinner of GuarantCo pointed to Pakistan's geography as ideal for nature-based solutions like mangrove plantations and wind farms, which enhance biodiversity and reduce maintenance costs. In Sindh, these projects attract climate finance, create jobs, and boost agriculture and fisheries.