The climate change’s catastrophic green issue could be mitigated through science, innovative technology, pertinent policy framework and private sector engagement in climate change risk reduction initiatives, the speakers here at a consultative dialogue Friday said.

The climate change’s catastrophic green issue could be mitigated through science, innovative technology, pertinent policy framework and private sector engagement in climate change risk reduction initiatives, the speakers here at a consultative dialogue Friday said.

Sustainable Development Policy Institute (SDPI) under its 21st Sustainable Development Conference (21stSDC) and 11th South Asia Economic Summit (11thSAES) organized a seminar on "The Role of Private Sector in Climate Action" to mull over the possible recommendations for a policy brief on the issue.

Former Federal Minister for Information and Senator, Water Environment Forum Chairman Nisar A Memon chaired the consultative discussion.

He said climate change was a broader and all encompassing phenomenon where private sector was mere one component affected through it.

In the prevailing intense scenario of hostile politics on the issue of climate change it should be realized that it’s the future of coming generation which is at stake, however, the world has realized the sensitivity as under the United Nations Framework Convention on Climate Change (UNFCCC) persistent negotiations under the 24th conference of parties (COP-24) in Poland.

"The United States has not backed out in real from the Paris Agreement as it has directed its private sector to develop methodology to reduce emissions contributing towards climate change," he maintained.

He remarked, "Pakistan is a country custodian of numerous glaciers, the ancient Indus River and various other global natural reserves where scientific and technological measures are a hope in coping with climate change. Youth is the next generation which will have to embrace the disastrous environmental degradation so it is now their responsibility to take the challenge to mobilize the government over the issue." Memon said private sector was already involved in various initiatives whereas the social corporate responsibility was the next fragment to bring the best ideas for novel solutions for the looming risk.

The government, he said had made proper policies as its historic to get consensus over National Policy on Water 2017, now it had disembarked on Forest Policy, however, 10 billion Tree Tsunami and other initiatives had been launched for amicable measures for the climate change management.

Pakistan Atomic Energy Commission Former Chief Scientist, educationist Shaukat Hameed Khan informed that one of the major drivers of climate change was electrification of global economies and societies as when energy consumption pattern gets converted to other form the process of nature and climatic transition loses the process.

He said, "Increasing focus on sustainable energy generation and use is the key to mitigate climate change.

The Japanese study reveals 66 to 54 percent declines in the fossil fuel share of energy generation process from 2014-2040. The consensus of this century has been made on reducing Green House Gases emission and carbon neutrality to keep world temperature below 2�C which requires 3 times the current global commitments while to maintain it less than 1.5�C the efforts to decarbonize would go 5 times the present efforts." Referring to renewable energy initiatives, he mentioned that it did not possess the capability to provide round the clock (24/7) electricity supply while there was need to develop resourceful storage capacity.

Investment in fossil fuels across the world was declining so in renewable energy where the investment was shifting towards energy efficiency projects, he added.

Ministry of Climate Change Former Secretary Abu Akif said traditionally private sector was responsible for development whereas currently all public services were being provided by the private sector which the government provided in the past. Instead of thinking in terms of sectors there was need to get involved in joint ventures to achieve a sustainable future.

Former State Minister and board of Investment (BoI) Chairman Naeem Zamindar said the markets and private sectors should invest in the maximum human welfare as investing taught us that markets needed to be realigned towards thinking of larger good.

He said government leadership had to play its role in bridging public, private sectors and markets for achieving greater benefits, adding the way forward revolves around three things namely innovative ideas, investment in areas to adapt and mitigate climate change impacts and deal climate change issue as public emergency.

Political economy researcher from Hashoo Group Aisha Khan emphasized to remember SDGs mainly SDG-13 for climate action that vows strengthening resilience for climate change including integrating climate change measures into policies.

The panel at the conclusion presented their recommendations to be taken up in the policy formulation on climate change.

The recommendations primarily included creating awareness and responsibility over the serious environmental degradation, investing and innovating technologies, to think small at the community level to help simple household innovations and biomass energy investment, public sector should allocate more funds to meet the cost of climate change projects.

It further had 3T strategy to invest in technology, tourism and transit to be eco-friendly, to put a halt on plastic use and connect policy formulation process with ground realities and develop capacity for efficient mitigation endeavours.

Source: https://www.urdupoint.com/en/pakistan/innovative-technology-private-sector-engagem-499959.html