Karandaaz held a full-day webinar on the challenges and opportunities of renewable energy and energy efficiency in Pakistan. Leading experts and stakeholders in the renewable energy and climate finance space deliberated on the challenges and opportunities in this emerging space. Pakistan’s energy demand in 2021 was 29,435 MWs, whereas the supply after line losses in the same period was 26,083 MWs. This gap existed despite the fact that Pakistan possessed a potential to supply 37,261 MWs with existing infrastructure.
Dr Shamshad Akhtar, Chairperson Karandaaz said, “Karandaaz’s research tabled for today’s 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. Few promising initiatives are noteworthy. 2019 Alternative and Renewable Energy Policy if proactively implemented will promote low carbon pathways as it targets a change in energy mix by lifting the share of renewables to 20% by 2025 and 30% by 2030.
Waqas ul 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. Countries in developed and emerging economies alike are moving towards innovative solutions and technologies in energy efficiency and renewable energy through creative financing solutions such as bonds, climate adaption funds, and wholesale financing facilities. Through Karandaaz’s Green Initiative, we have also made several investments in the renewable energy domain and launched a challenge fund as well.
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