As the year 2023 draws to a close, we want to highlight the achievements of the past couple of years at Pakistan Environment Trust (PET):
- Scaling the flagship Net Zero Pakistan (NZP) coalition to include over 20 member companies, and gaining international recognition as one of the first initiatives from the Global South to become an official accelerator of the Race to Zero Campaign.
- Spearheading the private sector’s adoption of Science-Based Targets, with six leading textile companies poised to submit their targets to the Science-Based Targets initiative by the end of Q1 2024.
- Pioneering the market for Renewable Energy Certificates (RECs) in Pakistan, empowering local companies to fulfill their clean energy commitments and spurring increased investment in renewable energy projects.
- Crafting a portfolio of high-integrity carbon removal and avoidance projects, poised to underpin Pakistan’s active participation in voluntary carbon markets and potentially unlocking up to $200 million in annual revenue.
- Cultivating Pakistan’s premier talent hub for climate professionals, marked by a ten-fold increase in the team’s size and the establishment of offices across Islamabad, Karachi, and Lahore.
- Convening a diverse ecosystem of local and global organizations to collectively address Pakistan’s most pressing climate challenges—partnerships include, but are not limited to: CDP, SouthPole, MyCarbon, Inditex, Apparel Impact Institute, Sustainable Apparel Coalition, Textile Exchange, Sustainable Development Policy Institute, Aga Khan Development Network, and Pakistan Textile Council.
This is just the beginning. Stay tuned to learn more about our plans to build upon these achievements and catalyze the decarbonization movement in Pakistan.