Renewable Energy Resources, Crucial To Achieve Environmental Targets: Experts-4232-News

ISLAMABAD, (APP - UrduPoint / Pakistan Point News - 23rd Apr, 2021 ) :The environmentalists Friday underlined the need for tapping the huge potential of renewable energy resources, available in Pakistan, to achieve environmental targets. The experts were addressing a webinar on 'Low carbon recovery in Pakistan-green financing strategies in post-Covid scenario,' organized by Sustainable Development Policy Institute (SDPI), said a news release. Energy Finance Analyst at the Institute for Energy Economics and Financial Analysis (IEEFA) Simon Nicholas was of the opinion that the green recovery initiatives were not only about environmental concerns but also rescuing the power sector of Pakistan which was under great strain. He added that being a partner of China, Pakistan was serious contender for green recovery and transition to renewable energy. He said Pakistan could diversify its power sector by making sustainable investment commitment and attracting private investors in the fields of green energy. The financial and technical assistance from developed countries could be vital to develop renewable energy, he added. Member of SAARC energy sector on renewable energy, Dr Ahsan Javed said the green recovery initiatives could prove a game changer in the countries having great potential for renewable energy. World Wind Energy Association Country Representative-Pakistan Zeeshan Ashfaq, while covering environmental aspect of the issue, said ensuring green recovery could save the humanity from the pandemics and climate crisis. "We need to make renewable energy projects a top priority in our power sector policies, especially in the post-COVID-19 recovery," he added.   Green energy expert Nameera Hameed was of view that the government needed to take lead in decarbonizing the economy, especially the energy sector to achieve post-COVID-19 economic recovery. She emphasized that the green recovery should be inclusive by ensuring gender equality and including women leaders and experts in the green recovery. Research Fellow at SDPI Dr Sajid Amin Javed said the COVID-19 had opened some opportunities windows as well and the green recovery was one of such emerging opportunities. SEED Investment Advisor Vardah Malik emphasized that Pakistan may take advantage of the multi-lateral and bilateral funds and bonds to mobilize private sector investment which was inevitable in the post-covid-19 green recovery. Besides, Pakistan needed to align itself with the global and regional green energy recovery framework to have a holistic approach in that regard, she added. Indus Consortium Chief Executive Officer Hussain Jarwar highlighted that Pakistan being among the top ten countries worst affected by climate change, was greatly pressed to utilize its coastal areas for wind energy projects for green energy production. Associate Research Fellow at SDPI Dr Hina Aslam, in her concluding remarks said that a greater access to financial institution, the engagement of the private partners and local banks and catering for the regional countries' experiences could provide kick-start in the path of green recovery for Pakistan.