Pakistan is working to decrease CO2 equivalent emissions. The government is pursuing strategies for combating climate change, including the promotion of renewables and electric vehicles, a ban on plastic bags, and the billion-tree plantation drive. This is followed by Pakistan’s Alternate Renewable Energy Policy and National Electricity Policy, 2021, among other initiatives on the policy reforms side. 

Companies are now more committed to minimizing their carbon footprint and reducing any negative impact on the environment, as well as contributing towards the national target of increased renewable generation and decarbonization. Corporations are investing in projects on energy and water efficiency, converting energy sources to renewables, ecological restoration, waste heat recovery, and low carbon technologies in operations and supply chains to reduce their overall environmental footprint. 

Regulators are also working towards developing regulations and disclosure requirements that are primarily based on GRI, WEF Metrics, and ISSB Exposure Draft. Carbon-related disclosures remained a priority; however, we are on a journey to augment ESG reporting and there is a long way to go.