Pakistan considers issuing energy bonds for tech up-gradation in industry: official

Islamabad: The Pakistani government is contemplating releasing energy-saving certificates and energy conservation bonds to encourage technological up-gradation in industry, a Pakistani official said.

Sardar Mohazzam, managing director of the National Energy Efficiency and Conservation Authority of Pakistan, made the remarks during a seminar on decarbonizing the cement sector organized by the Sustainable Development Policy Institute, an Islamabad-based think tank, Xinhua News Agency reported.

Mohazzam said that the cement sector holds immense potential for de-carbonization and energy efficiency, and “we must analyze and take inspiration from policy initiatives being implemented in China” in this regard.

He reiterated that energy security is a top priority for the government, but pricing remains a pertinent challenge in the uptake of renewables and de-carbonization of hard-to-abate sectors.

Mohazzam added that a designated consumer regime equipped with benchmarks and energy audits to catalyze the uptake of renewables and emission reduction from the industrial sector is in the pipeline and would soon set the right regulatory direction for the sector.

Syed Fawad Hussain Shah, senior assistant manager at the Center for Industrial and Building Energy Audits, a state-funded energy auditing company, stressed the need for improving public awareness regarding green cement and updating the building code of Pakistan to influence the sector to shift from grey to green cement, which is eco-friendly.