ISLAMABAD: The Overseas Investors Chamber of Commerce and Industry (OICCI) demonstrated its commitment to driving meaningful climate action at COP28 by arranging a pivotal high-level dialogue in collaboration with the Ministry of Climate Change.
Nestled within the exclusive Blue Zone of the Pakistan pavilion in Expo City Dubai, the dialogue, titled ‘Decarbonization and the Role of the Private Sector’, tackled pressing issues such as evaluating carbon market efficacy, mobilizing private capital for achieving Net Zero carbon emissions, and fortifying public-private partnerships.
The panel highlighted the urgency for businesses to decarbonize supply chains, stressing affordable levers such as efficiency, circularity, and renewable power.
It identified OICCI, along with other businesses, as key platforms for mobilizing multi-sector business coalitions to inform public policies and drive sustainable practices.
President of OICCI Amir Paracha underlined the importance of private sector engagement in achieving Pakistan’s Nationally Determined Contributions (NDCs), saying that their dialogue at COP28 was not just a conversation but a commitment to sustainable practices.
OICCI Supports Pakistan’s Climate Goals
The private sector plays an important role in driving innovation and solutions for a resilient, low-carbon future. OICCI is dedicated to spearheading this initiative and supporting Pakistan’s climate goals. Earlier during the year, furthering its commitment to climate action, OICCI arranged its second Pakistan Climate Conference on 1 November, where the urgent need to boost financial efforts for the environment took center stage.
Secretary General OICCI Abdul Aleem said that by partnering with MOCC at COP28, OICCI reaffirmed its commitment to champion private sector leadership in green energy, climate-resilient infrastructure, and sustainable agriculture.
He said that this commitment is crucial for Pakistan and will help focus the efforts on mitigating climate disasters and empowering the affected communities.
The OICCI is the collective voice of major foreign investors in Pakistan, with more than two hundred members from more than 30 nations. OICCI members contribute over one-third of the country’s total tax revenue and are involved in fourteen sectors of the economy.
They facilitate the transfer of skills and technology and employ a significant number of people.
