Climate Finance Accelerator Roadshow Showcases Innovative Pakistani Projects

Karachi, February 19, 2024

The UK-funded Climate Finance Accelerator (CFA) Pakistan Investor Roadshow has kicked off its first day in Karachi showcasing eight climate projects from the agriculture, forestry, waste, and e-mobility sectors to Pakistani investors. The project developers pitched their innovative ideas to mitigate climate change to investors who also provided advice and feedback on the projects.

Each project has received months of capacity building from financial, technical and gender equality and social inclusion experts managed by CFA Pakistan’s local delivery partner DAI Pakistan.

British Deputy High Commissioner, Sarah Mooney, underscored the UK’s dedication to partnering with Pakistan in addressing the climate crisis: “ “The UK Government is proud to support initiatives like the Climate Finance Accelerator, which play a crucial role in unlocking climate finance and supporting innovative projects in Pakistan. Climate change is one of the defining challenges of our time and the projects showcased today demonstrate the potential for climate action and sustainable development in Pakistan. I hope that they can use today’s event and the training that they have received to help them find investment.“

Najam Shah, Secretary, Forest & Wildlife Department, from Government of Sindh, provided insights into the government’s stance on climate change, emphasizing the need for collaborative efforts between government and non-governmental entities to achieve climate goals.

James Naughton, DAI Pakistan, highlighted the urgent need for action, stating, “Pakistan’s climate adaptation goals require significant investments, estimated at around 14 billion per year. This necessitates an immediate response from both the private and public sectors. The CFA Pakistan Investor Roadshow brings together commercial project developers, financiers, and policymakers to catalyze investments in climate-friendly initiatives.”

The event fosters collaboration between financial experts, investors, and project developers, aiming to accelerate the transition to a low-carbon economy. If funded, these projects have the potential to benefit communities across Pakistan through pollution abatement, employment opportunities, improved energy access, effective waste management, e-mobility solutions, and by promoting gender equality and social inclusion.

NOTES TO EDITORS

For more information about the Climate Finance Accelerator Pakistan, please visit our website at www.cfapakistan.com

CFA Selected Projects appeared in the CFA Investor Roadshow are:

1. Davaam Life (Sector: Waste Management): Davaam’s refill station dispenses liquid products accurately, promoting safety and hygiene in waste reduction efforts. The project aims to reduce plastic waste by providing a convenient and reliable method for dispensing liquid products, thus contributing to a cleaner environment.
2. Electric Two Wheelers Project by Charged Vehicles Pvt. Ltd. (Sector: e-mobility): Charged Vehicles Pvt. Ltd. is introducing locally assembled electric two-wheelers that will replace internal combustion engines, thereby reducing carbon emissions. The project includes a supporting app for convenient usage, promoting sustainable and eco-friendly transportation solutions.
3. Afforestation & Reforestation Project Pakistan by Pact Capital (Sector: AFOLU): This project aims to contribute to carbon capture and storage by fostering biodiversity and sustainable land use practices. Through 5,000 hectares of afforestation, Pact Capital is working towards enhancing carbon sequestration and promoting environmental sustainability.

4. Scaling-up use of AI-based Precision Farming amongst Rural Farmers in Pakistan by Food Security & Agriculture Center of Excellence (FACE) (Sector: Agriculture): FACE is utilizing agricultural drones for efficient pest management, higher yield, and responsible resource usage. The project aims to improve agricultural productivity and sustainability through the adoption of precision farming techniques.
5. EcoDost by Nova Mobility Pvt. Ltd (Sector: e-mobility): Nova Mobility Pvt. Ltd. is introducing lightweight and fuel-free two/three-wheelers that are locally assembled. Equipped with a Lithium Iron Phosphate battery, these vehicles ensure reliable and long-lasting power for sustainable transportation, promoting eco-friendly mobility solutions.
6. Sustain Agro by National Foods Ltd. (Sector: Agriculture): National Foods Ltd. is employing solar photovoltaic technology to power farm equipment, including modern greenhouse vertical farming and precision agriculture techniques. The project aims to enhance agricultural productivity while reducing reliance on fossil fuels.
7. Supply Chain Sustainability by AH-Bridgelinx Solutions Pvt. Ltd. (Sector: Technology): AH-Bridgelinx Solutions Pvt. Ltd. is employing AI and machine learning to optimize road freight, reducing fuel consumption and emissions. The project aims to promote sustainable supply chain practices, thereby reducing the environmental impact of transportation.
8. Orko Pvt. Ltd. (Sector: e-mobility): Orko Pvt. Ltd. is providing a connected vehicle solution through a mix of technology domains, including automotive-grade firmware, IoT sensor connectivity, cloud, and data architecture, and mobile app development. This project aims to enhance the Electric Vehicles Ecosystem in Pakistan, promoting sustainable and efficient transportation solutions.

About Climate Finance Accelerator

• 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 Energy Security and Net Zero (DESNZ). The CFA is implemented in ten countries (in addition to Pakistan, it operates in Colombia, Egypt, Mexico, Nigeria, Peru, South Africa, Türkiye, Uganda 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. The UK government has announced up to £40 million to extend the CFA programme from late 2024 until 2029. This will support up to 750 low carbon projects in up to 16 countries across Asia, Latin America, and Africa.
• The global CFA programme is delivered by PwC UK, in collaboration with Ricardo. CFA in Pakistan is implemented by DAI To find out more about the global CFA programme please visit: CFA LinkedIn

About DAI 

• 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.

For CFA Pakistan, please contact

• Sarosh Hina, Communication Expert, Climate Finance Accelerator Pakistan
  • email: [email protected]
  • Call: 03458507197
  • LinkedIn: www.linkedin.com/in/sarosh-hina-30500832
• CFA Global: LinkedIn:

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