Pakistan is 8th most vulnerable to climate change, 18th in terms of highest disaster risks and 40th in terms of vulnerability to tropical storms.
Pakistan is the 8th most vulnerable to climate change, 18th in terms of highest disaster risks, 40th in terms of vulnerability to tropical storms, and 43rd in terms of vulnerability to droughts. Climate tech startups raised $82 billion in 2022, a 20% increase from the previous year.
The US contributed $43.9 billion and companies with headquarters in Europe provided $35.6 billion. Pakistan’s share of global greenhouse gas emissions is far less than what it can do to help solve the climate crisis.
Suftech is one of a climate tech startups that uses its special patent-pending technology to upcycle plastic.
“Plastic is a wonder material with its low cost, durability, and lightweight, and it’s only causing a problem due to improper disposal,” said Ahsan Ejaz, co-founder of Suftech and a veteran of the international plastics trade for the past 13 years.
Co-founder Dr. Basit Yameen has experience from institutions like Harvard and MIT and is a tenured Chemistry Professor at LUMS who has created numerous cutting-edge solutions. In Pakistan, plastic makes up 65 percent of all waste, with 3 million tonnes of plastic waste produced in 2022 alone.
Suftech’s technology upcycles plastic in place of virgin plastic, saving $60,000 in import costs. Ejaz’s process is not capital or energy-intensive, has positive unit economics, and returns the same form with 0.2-0.4 percent weight loss. Plastic recycling is criticised as a hoax with little to no feasibility.
We are currently focused on Polypropylene and Polyethylene and are looking to expand locally in Pakistan followed by expanding overseas, commented Fizza Hayat, Head of Design and Ops at Suftech.
She added that they are willing to licence their technology internationally or develop it independently. Another climate-tech startup, Aabshar, offers unique patent-pending nozzles that can be installed on any standard tap in less than 30 seconds. The company claims that these nozzles can save up to 98 percent on water usage and 60 percent on energy costs.
According to Khalid Wyne, Head of Marketing at Abshar, “our main goal is water conservation by reducing water wastage in homes, mosques, and corporate offices.” The availability of freshwater has become a major issue, particularly in large cities like Karachi where a single water tanker can cost between Rs. 6000 and 7000.”
“Even though comparable products are sold elsewhere, Wyne continued, ours were developed especially for Pakistani water, which has a higher salt content and clogs other nozzles.”
Solutions such as building dams in Pakistan and offering credit schemes to low-income households are needed to reduce resource usage. Abshar is also preparing to offer international expansion, but it can be difficult to change public habits due to additional costs for domestic users.
SEFIRM’s PickMyPlastic initiative is being overseen by Fariha Rizwan of Z2C Limited. Users who collect plastic are rewarded with points that can be used in a variety of ways. A recycling facility receives the collected plastic after that. To meet its ambitious climate change commitments, the government needs the private sector, innovation, and the global community.
On the other hand, Pakistan’s climate-tech startups face numerous obstacles to long-term sustainability and growth. The biggest issue is the absence of rewards for lowering emissions or implementing carbon-free technology.
Fariha Rizwan continued, “Investments in climate-tech initiatives are not currently a profitable proposition. Governments all over the world are attempting to lower emissions by encouraging the adoption of green technologies, making it more difficult for companies to emit carbon, and raising money to invest in green technology. To reduce emissions, an estimated 46 countries have implemented some type of carbon tax or emission trading scheme (ETS).”
A carbon tax has been discussed in Pakistan for some time, but it is unlikely to be implemented given the high taxes and declining competitiveness of the industrial sector.
Studies, however, point to the possibility of an emission trading system. The government must create a framework to assist companies in going green without incurring significant costs. Furthermore, there is a lack of knowledge about the climate crisis.
Due to a lack of media attention, startups cannot address the climate problem. In order to create a favourable environment for green technologies, Fariha Rizwan explains that a lot needs to be done to alter national customs and foster conscious consumption, especially at significant events. She also stresses the significance of developing conscious consumption and changing societal norms.