‘Pakistan can be leader in industrial decarbonisation’

Islamabad: Benjamin James Matthew Williamson, CEO, Staalbaek Ltd, has said that Pakistan possesses a significant opportunity to become a leader in industrial decarbonisation.

Mr Matthew was addressing a roundtable discussion on ‘Business case for decarbonisation in Pakistan’ hosted here by Sustainable Development Policy Institute (SDPI). Saleha Qureshi from SDPI moderated.

According to Mr Matthew, achieving these goals requires capacity building at multiple levels as well as the integration of strategies on a broader scale. This approach unites sectors like agriculture, with diverse data sets across different tiers of emission scopes.

He said achieving these goals requires capacity building at multiple levels as well as the integration of strategies on a broader scale. This approach unites sectors like agriculture with diverse data sets across different tiers of emission scopes.

By ensuring the necessary infrastructure and focusing on education, the country can position itself at the forefront of this critical global movement. Mr Mathew believed these efforts will pave the way for Pakistan’s economy to follow an upward trajectory, supporting sustainable growth and innovation

Dr Khalid Waleed from SDPI pointed out that Pakistan’s economy is trapped in a cycle of low productivity, trade deficits and unsustainable energy costs. He stressed the urgency of shifting from conventional approaches to sustainable solutions, highlighting the potential risks posed by international regulatory mechanisms like the Carbon Border Adjustment Mechanism (CBAM).

Pakistan’s textile sector in particular, he said, faces significant challenges under these global policies which could undermine competitiveness unless the industry adapts to decarbonisation. Farrukh Ahmad, Deputy General Manager, Pakistan State Oil (PSO), shared insights into how his organisation is leveraging decarbonisation as an opportunity rather than a challenge. PSO, which holds half of the country's oil storage, is actively working on energy efficiency, renewable energy initiatives and the development of electric vehicle (EV) charging infrastructure to reduce carbon footprints. He noted PSO's commitment to leading the energy sector towards a cleaner future.

Hammad Bashir from Private Financing Advisory Network (PFAN) emphasised that decarbonisation should not be viewed as mere ‘greenwashing’ but as a genuine business case. He acknowledged the challenges faced by Pakistan's industries but highlighted the importance of creating tailor-made solutions that align with both environmental goals and economic realities.

Marianne Tan, Associate Director, Policy & Strategy, South Pole, reinforced the importance of carbon markets in the decarbonisation process proposing a win-win solution where industries reduce emissions and trade carbon credits. She also advocated for a transition from coal to renewable energy citing global examples such as the Rockefeller Foundation’s Coal-to-Clean initiative.

Dr Hina Aslam, Visiting Fellow, SDPI, addressed the broader implications of decarbonisation, stressing that even developed countries are grappling with the challenge of transitioning to low-carbon industries. She pointed to sectors like steel and cement as critical areas where emissions reductions can be achieved through innovative production processes.