MULTAN:Speakers at a seminar highlighted the need to opt for cost-effective green energy after a complete shift-over from
traditional energy sources to reduce carbon footprints.
They said that the objective could only be achieved with substantive awareness among the masses besides flexible soft-term financing to eventually promote green energy to fight smog and climate change.
The observations were made at a seminar titled ‘Green Financing and Clean Energy’ organized at a hotel by Alternate Development Service (ADS), a policy research institute that also unveiled its research book titled ‘Green Financing: A Review of Commercial Banks’ here the other day.
ADS also played a documentary titled ‘Green Energy and Sustainable Industrial Development’ detailing reasons behind industrial carbon emissions and its impact on the environment in some parts of South Punjab.
A good number of industrialists, environment experts, social workers, finance experts and people from different walks of life were in attendance.
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peakers attributed the ongoing smog phenomenon to the emission of Carbon Dioxide (CO2) from industry and transport and underlined the need to reduce carbon footprint as maximum as possible.
They projected shifting to green energy as the suitable solution to counter smog and environmental degradation but added that this objective cannot be achieved without suitable green financing initiatives in the country.
ADS representative Amjad Nazir, detailing the results of their research compiled in the form of a book, said that some banks support shifting to solar energy but added there was a lack of awareness on carbon emissions. Moreover, people who
have shifted to green energy did not do so because of reduced carbon emissions but for low cost or profit taking.
He said that the KIBOR+4 policy of green financing should be revived.
An associate professor from BZU Multan Dr. Muhammad Sultan suggested that Pakistan should benefit from green energy initiatives in China. Prof. Dr. Daud from Environment Sciences said
that apprehensions of local communities be taken into account before launching projects in their areas. A social worker Fazl-e-Rab said that taking care of the apprehensions of the local community would ensure environmental justice. Another social worker Jodat Syed said that equipment to record air quality should be available in all cities facing smog problems.