We contributed to the “Report on Impact of Climate Change on Business Decisions in the Rice and Cement Industries,” commissioned by the Pakistan Regional Economic Integration Activity (PREIA) with the support of USAID. This landmark study provides crucial insights into the intersection of climate change and business operations in Pakistan. T
Our team, led by Pakistan Partner Mazhar Bangash and assisted by Senior Associate Momin Taufiq and Junior Associates Saman Shahrukh and Shayan Mari, contributed to the report as legal advisors. They focussed on analyzing the legal and regulatory aspects of climate change at both international and domestic levels. The report offers a comprehensive assessment of the challenges faced by Pakistan’s rice and cement industries, two sectors vital to the country’s economy that are significantly impacted by climate change.
The study makes specific recommendations for mitigating the impact of climate change, such as implementing a robust carbon tax structure and providing tax incentives to encourage adopting greener practices. These measures aim to discourage high emissions, promote efficient use of natural resources, and facilitate a transition towards more sustainable business operations.
While Pakistan’s legislative framework provides a strong foundation, the report highlights the slow pace of implementation. The Climate Change Act of 2017 called for the establishment of a Climate Change Authority, which was created earlier this year after the Supreme Court of Pakistan intervened. This crucial step enables Pakistan to address its climate vulnerabilities more effectively and align with international commitments like the Paris Agreement.
The report reflects a growing recognition among public and private sectors of the urgent need for decisive action to address climate change. Mazhar Bangash, Partner leading the team, commented,
“The findings are expected to help both public and private sectors respond effectively to climate-related issues.”
This report serves as a valuable resource for industry leaders and policymakers. It offers insights into the necessary steps for transitioning to a greener economy and business climate and indicates a significant shift towards actively engaging in environmental responsibility.
For more information on our sustainability and policy advisory practice, contact Mazhar Bangash today.
This article is not legal advice; it provides information of general interest about current legal issues.
RIAA Barker Gillette is Pakistan’s premier law firm, with an on-the-ground presence in four major cities in Pakistan: Karachi, Islamabad, Lahore, and Peshawar, and affiliated offices in Dubai (DIFC) and London.
The firm practices in all areas of corporate, commercial and dispute resolution law. Leading international legal directories consistently recognize the firm as a top-tier law firm in Pakistan.
RIAA Barker Gillette is the exclusive member firm in Pakistan for Lex Mundi, the world’s leading network of independent law firms with in-depth experience in over 125 countries worldwide.
