Karachi: The Overseas Investors Chamber of Commerce and Industry (OICCI) underscored the essential role of public-private collaboration in tackling Pakistan’s climate challenges at COP 29. The event featured a dialogue titled “Unlocking Pakistan’s Climate Future with Public-Private Partnerships,” held at the Pakistan Pavilion, bringing together industry leaders, government officials, and global climate experts to discuss financing strategies for climate resilience and green investments in Pakistan.
According to Overseas Investors Chamber of Commerce and Industry, OICCI’s participation in COP 29 highlights its commitment to promoting sustainable business practices and supporting policies that encourage climate finance. As Pakistan progresses towards its climate objectives, OICCI is focused on mobilizing resources and fostering collaboration to build a climate-resilient future. The organization aims to lay the foundation for a sustainable, climate-smart Pakistan through these initiatives.
OICCI Secretary General M. Abdul Aleem emphasized the private sector’s critical role in bridging Pakistan’s $152 billion climate adaptation gap, advocating for supportive policies and incentives to scale climate-smart investments. Andrew Bailey, Managing Director at BASF Pakistan, stressed the significance of resilient financial systems, noting that OICCI members are advancing Net Zero goals through investments in clean energy, green financing, and climate resilience.
Rob Cameron, Global Head of ESG Engagement at Nestlé, highlighted Nestlé Pakistan’s efforts in water regeneration. Under the Caring for Water – Pakistan initiative, projects like drip irrigation and smart soil moisture sensors have been implemented across Punjab and Sindh, advancing regenerative agriculture across Nestlé’s value chain.
Veronica Nyhan Jones discussed the role of innovative climate finance instruments in advancing climate-smart agriculture and sustainable land-use projects in Pakistan. She emphasized that instruments like sustainability-linked financing and thematic bonds can attract private capital, de-risk investments, and accelerate climate resilience in vulnerable regions, with technical assistance being crucial for their adoption. The IFC is positioned as a partner of choice for the private sector in the region.
Fiona Duggan, Global Sustainability Climate Lead at Unilever, highlighted the need for regulatory reforms and financial incentives to scale circular economy practices, stressing the importance of embedding climate resilience into supply chains. Thomas Beloe of UNDP’s Sustainable Finance Hub shared insights on mobilizing climate finance, pointing to results-based blended finance as key to unlocking private capital for Pakistan’s climate resilience and adaptation, underscoring the need for catalytic collaboration between local public institutions and the private sector.
Dr. Fatima Khushnood, Executive Director of the Pakistan Environment Trust, remarked on the importance of cross-industry collaboration, stating that businesses must adapt as sustainability becomes a priority for investors, consumers, and governments.
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