KARACHI: K-Electric (KE) has signed an agreement to enlist in the United Nations Global Compact (UNGC), with an aim to embed sustainability in its core business operations, a statement said on Saturday.
The Memorandum of Understanding (MoU) was signed by Moonis Alvi, CEO K-Electric and Majyd Aziz, President of the Global Compact Network Pakistan (GCNP), the Pakistani body of the UNGC at KE’s Distribution Network Academy in the presence of Chairman NEPRA Tauseef H Farooqi.
By signing the agreement, the KE has joined a global network of over 14,000 companies across 162.
KE is among the first power utilities in Pakistan to be a part of this global initiative which aligns with the company’s commitment to embed a robust Environmental, Social, Governance (ESG) strategy for sustainable value creation.
KE has been focused on creating lasting impact in the communities it serves through a variety of initiatives. Through Project Sarbulandi – aligned with UN Sustainable Development Goal 11 to “make cities inclusive, safe, resilient, and sustainable” - the company is investing Rs10 billion to uplift communities alongside ensuring the provision of safe, reliable, and uninterrupted electricity.
Across areas in Orangi, Korangi, Bin Qasim, Malir and others, the company has adopted and beautified public spaces and schools, installed water purification plants, and established free medical assistance camps for the residents. At the same time, the company has also installed over 100,000 low-cost meters to regularise the electricity connections, as well as installed Aerial Bundled Cables (ABCs) to bolster the infrastructure. The result has been a consistent improvement in the area’s profile, with many areas now receiving uninterrupted electricity supply.
In alignment with UN Sustainable Goal 5 – to “achieve gender equality and empower all women and girls” - In February 2021, KE also inducted 40 women from across Karachi as part of its Roshni Baji community ambassador program. Over the last 7 months, these women have engaged over 100,000 homes educating homemakers on essential safety practices to undertake in their premises. They have also been trained as Pakistan’s first certified female electricians capable of deploying the internal wiring of homes, shops, or warehouses on a single-phase supply.
Speaking on the occasion, CEO K-Electric Moonis Alvi said, “The UN Global Compact is an unparalleled platform in its ability to unite companies on a singular vision. We look forward to sharing our contributions and learning from the best practices across the world as we move towards a cleaner, greener, and more efficient future”.
Alvi said the federal government had also envisaged a future where renewable energy played a critical role, and “we are committed to playing our part in achieving this mission”.
Since privatisation, KE has invested billions across its value chain and doubled the capacity of its transmission and distribution networks which enabled a significant reduction in transmission and distribution losses.
This has also enabled the utility to provide uninterrupted power to around 78 percent of the city; through sustained efforts and subject to regulatory approval on investment plans, KE is aiming to take this number up to over 90 percent in the coming years.
President Global Network Compact Pakistan (GNCP) Majyd Aziz said, “I am pleased that KE has become the signatory of the UN Global Compact”.
“KE’s mission and values already focus on sustainable and socially responsible policies, which reflect through various initiatives it has been leading.”
Aziz said adopting the UNGC principles that include focus on human and labor rights, environmental protection, and anti-corruption, would help K-Electric further accelerate its progress towards achieving higher sustainability and environmental goals for the benefit of society at large.
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