Climate Finance Accelerator (CFA) Investor Roadshow concludes today.
The two-day CFA Pakistan Investor Roadshow which took place in Karachi and was organised by the UK Government and DAI, concluded today.
During the second day of the Roadshow, low-carbon developers showcased their projects, ideas, skills and technologies in front of investors and financiers. The seven projects focused on environmental solutions, energy, transportation, AFOLU (agriculture, forestry and other land uses), waste, e-mobility, and manufacturing.
Addressing the closing ceremony of the roadshow, Agha Wasif Abbas, secretary of ECC&CDD, Government of Sindh praised the CFA low-carbon projects and welcomed their innovative thinking that will help fight the climate emergency in Pakistan.
Over 100 financial experts, policy makers and low-carbon specialists attended and participated in the event. Each project had a stall allowing attendees to interact with them as they presented their ideas and solutions to issues such as pollution, access to energy, effective waste management and increasing access to e-mobility.
Sharing the journey of CFA Pakistan, the event convened panel discussions on wider issues around climate finance in Pakistan considering how it can help Pakistan to accelerate its sustainable transition and deliver its net zero goal. Panel comprised of representative from Sindh Government, InfraZamin Pakistan and PwC Sustainability UK.
Closing the event, Arsalan Ali Faheem, DAI Country Director, said “The first cohort of projects was a success, I had the pleasure to moderate the discussion about financial drivers of climate risks with high-level panel of experts of the financial industry, Corporates and policy makers who discussed the issues at stake and opportunities ahead”.
Notes to the Editor
The Climate Finance Accelerator (CFA) is a £11.8 million technical assistance programme funded by International Climate Finance (ICF), through the UK Government’s Department for Business, Energy and Industrial Strategy (BEIS). The CFA is implemented in nine countries (Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Türkiye and Viet Nam) and is working to develop a sustainable pipeline of bankable, low carbon projects in each country. The CFA is part of the UK’s efforts to support climate action on a global scale, facilitating access to finance and helping governments achieve climate targets under the Paris Agreement.
To find out more about the CFA in Pakistan, please visit: CFA Pakistan.
DAI is a leading global development company. Since 1970, DAI has worked in more than 150 countries- from stable societies and high-growth economies to challenging environments. DAI works with national and local governments, bilateral and multilateral donors, private sector companies, philanthropic institutions, and academia. DAI is known for its technical excellence, innovation, and quality of work. DAI’s line of business cover the full spectrum of development disciplines including Health, Education, Climate Change, Trade, Governance, Sustainable Business & Economic Growth.
The global CFA programme is delivered by PwC UK, in collaboration with Ricardo. To find out more about the global CFA programme please visit: CFA LinkedIn.
The CFA projects are:
ACT Engineering Services: ACT Engineering (ACTES) provides standardised solar solutions for residential and commercial clients. The company has already installed 6 MW of distributed solar all over Pakistan, and aims to implement further 20 MW industrial and commercial solar projects through CFA support in a bid to scale up solar energy solutions in Pakistan.
Digital Dera by Agriculture Republic: Digital Dera is Pakistan’s first climate smart village community network that aims to connect all remote rural villages and communities across Pakistan to the internet. It will also equip smallholder farmers with climate smart digital agriculture free-of-charge.
Concept Loop: This project aims to redirect plastic waste from oceans and landfills into sustainable and affordable building materials and lifestyle products. The business will source/recover waste plastic and process it into bricks, partition boards, decorative sheets and value-added furniture items.
Daewoo: As the market leader in the transport sector of Pakistan, Daewoo Pakistan Express Bus Service Limited intends to launch electric 2-3 wheelers and electric buses in Pakistan. The e-mobility initiative will help the Government of Pakistan meet its target of 30% electric vehicles in the total vehicle mix of the country by 2030, set in the NDC.
DISIDE: The simplification of road freight emission reporting across the supply chain through a digital logistics platform. This makes road freight emission transparent and allows businesses to be accountable for every single ton-kilometer driven by their trucks.
Ouroboros Waste Management: The Used Polyethylene Terephthalate (PET) Bottle project aligns with circularity and neutrality targets –servicing the high-end market. The commercial opportunity at hand is of 25,000 MT Used PET converted to polyester yarn or Food Grade Recycled PET whilst tying in the neglected informal sector into the process and training women in semi-urban areas.
Shams Power Limited: Shams Power has pioneered the concept of distributed solar power generation to industry and commerce using a solar pay-as-you-go model. This project will implement 150 MW of distributive solar energy plants at multiple commercial and industrial sites in Pakistan. These greenfield solar projects will help industrial and commercial enterprises to transition to solar energy through affordable financing instruments of 150 MW of Distributed Solar Plants on multiple sites in Pakistan.
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Contact: British Deputy High Commission, Islamabad; tel. 0300 0775647
For information about CFA Pakistan please contact: Sarosh Hina, Communication Expert, DAI Pakistan, [email protected], 0345-8507197