In the prevailing climate crisis affecting our environment, health and economy as well, there was also existing opportunity in shape of global initiative of `Green Funds’ that could be tapped through our struggle for building a sustainable ecosystem by rethinking and transforming business and farming practice.

Transforming Business, Farming Practices Stressed To Tap `Green Fund' Opportunity Offered By Climate Crisis

“If we realize ground reality and fundamentally reshape our business models around transformative green solutions, we can attract multi-billion Dollars offered by world community for reviving nature.” This was the gist of a talk delivered by Talha Khan, Executive Director Pakistan Environment Trust (PET), a non-governmental organization striving to mobilize global capital and expertise towards solving Pakistan’s toughest climate challenges. The talk was arranged for students under the title “How can Pakistan grow through the climate crisis.” Talha Khan said “Like other developing countries, we do not have the required economic strength to solve this problem of climate crisis by ourselves and have to tap the opportunity of funding from developed countries after taking adaptation as well as mitigation measures that reduces emission.” “The problems and challenges posed by impacts of climate change to our country are very serious and in this situation if the traditional practices are continued by farmers and industrial sectors that don’t reduces emission and carbon print, we might end up losing our exports, reduction in agriculture yield and loss of jobs in millions.” Talha said “According to estimates by different organizations Pakistan needs to spend roughly 70 to 80 billion US dollars per year until 2050, twice the size of entire annual budget, to achieve the goals of mitigating impacts of climate change.” Quoting a research study of McKinsey & Company on global impacts of climate change, “The whole world would require to spend around nine-trillion dollars per year to achieve the net zero ambition. a major chunk of this money needs to be mobilized towards the most affected countries for emission reduction if the net zero ambition is to be realized.” “This amount of nine-trillion Dollar can shift to climate affected countries including Pakistan by rethinking business model based on transformative green solutions,”

“Tapping into this amount could potentially solves Pakistan climate crisis and drive economic growth in our country,” he hoped. “Pakistan needs to be made as role model for other countries in climate mitigation measures by fundamentally rethinking how we run our businesses and develop products,” Talha opined. Regarding transformation measures, ED PET gave example of textile sector of the country making a contribution of eight to nine percent in our GDP. He said most of the international fashion brands have made commitment for looking of more green products that are made through climate friendly processes and policies that reduce emission or preferably have zero emission. Now by continuing businesses with these fashion brands or for attracting more companies towards our country, our textile companies, farmers that supply raw material, mechanical companies that supply dyes and other chemical companies need to develop their products in more climate friendly manner that reduces emission. “If we don’t do that and continued the traditional way of businesses, these companies will move their supply chains elsewhere, leaving a very bad impact on commerce and trade of the country,”
He also threw light on the threat of carbon tax being imposed by many European countries which might badly impact our export and render millions of people jobless in the country if green solutions were not introduced and implemented. “Our textile sector should concentrate and search for starters that can shift their sources of energy from fossil fuel to more efficient sources of energy like, rain, solar, bio-gas and wind,” “Similarly, farmers that supply different products to these textile companies can grow their cotton in a climate friendly manner. The chemical companies need to bring innovative solutions and technologies to reduce emission.” “If they can take these bold moves and manners, there is an opportunity waiting for converting our country from top climate affected to the leader in climate resilience and mitigation,” Talha commented. “In every sector, including transport, cement to steel, air conditioners, refrigerators we can switch to environmental friendly practices and can make our self eligible for distribution of Green Fund in our country for revival of nature and for attraction of international companies to do businesses with us,”

Source: This news is originally published by urdupoint

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