Steps afoot for renewable energy sources: Leghari

LAHORE : Federal Minister for Energy (Power Division) Awais Leghari has said Pakistan will have to adopt creative ways to ensure transition from anti-environment friendly energy sources to renewable energy sources.

Speaking at the closing session of the first day of the Asia Energy Transition Summit, held at Lahore University of Management Sciences (LUMS) on Saturday, the minister stated that Pakistan could gain valuable insights from China's experience in this area.

Leghari highlighted the substantial risks Pakistan faces from climate change, referencing 11 devastating floods over the past 8 to 9 years. He added that summits like this were crucial for countries like Pakistan, as they offered a platform for developing collaborative solutions.

Earlier, State Bank of Pakistan (SBP) Governor Jameel Ahmad in his keynote address underscored Pakistan's vulnerability to climate change, ranking among the top ten most affected nations despite its minimal contribution to global emissions. He highlighted Pakistan's commitment to reducing its carbon footprint by 15 percent by 2030, with an additional 35 percent reduction dependent on securing external climate financing.

He also pointed out the country’s goal to generate 60pc of its energy from renewable sources by 2030, stressing the urgency of adopting policies to cut carbon emissions for the sake of Pakistan's future.

Governor SBP emphasised the critical need for developing countries to access climate funding, noting that macroeconomic stability and structural reforms were vital for addressing the challenges posed by climate change.

In his opening remarks, Vice Chancellor of LUMS, Ali Cheema, set the tone for the first day of Asia’s Energy Transition Summit, which featured insightful discussions on the urgent need for transitioning to renewable energy in the region. Participants explored the distinct challenges and opportunities faced by different sub-regions, emphasising the importance of incorporating environmental sustainability into development strategies.

It is pertinent to mention here that the two-day summit which aims to foster regional cooperation to unlock climate finance and implement sustainable energy solutions will conclude on Sunday (today).