ISLAMABAD: Pakistan will take its top 10 startups to the Conference of the Parties (COP29) in Baku, Azerbaijan, this November to showcase projects aimed at reducing greenhouse gas emissions, according to individuals familiar with the initiative on Friday.
The National University of Science and Technology (NUST) has launched a Green-Tech Hub (G-TH), a state-of-the-art facility designed to transform Pakistan’s energy landscape and reduce the country’s carbon footprint by fostering green technologies, renewable energy solutions and eco-friendly innovations at its Islamabad campus. The platform will help young innovators connect with industry leaders to promote their green projects.
The COP29 climate conference, set to take place in Baku next month, will bring together representatives from various nations to discuss the adverse impacts of climate change and evaluate available solutions for adaptation.
“We are seeking the top 10 startups working in agritech, energy and other sectors to sponsor and take to COP29,” said Salaal Hassan, the chief executive officer of Ignite, a company dedicated to funding and supporting tech ventures, while addressing the launch of the Green-Tech Hub.
He added that three of the selected startups would receive assistance to raise funds and create green jobs.
“Young innovators should focus on solutions to combat climate change,” he emphasized.
Speaking at the event, Ministry of Climate Change Secretary Aisha Humera highlighted Pakistan’s challenging environmental situation, noting it also presented opportunities for young innovators.
“This Green-Tech Hub platform is designed to offer solutions to climate change-related challenges,” she said. “Pakistan contributes less than one percent to [global carbon] emissions, yet its impact on our economy and society is immense.”
“We aim to help young innovators connect with the industry to market their ideas and products, promoting green solutions,” she added.
Pakistan to showcase top 10 startups at COP29 climate conference in Azerbaijan next month
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Pakistan to showcase top 10 startups at COP29 climate conference in Azerbaijan next month
- NUST has launched Green-Tech Hub in collaboration with Pakistan’s climate ministry to support young innovators
- Among the 10 startups featured at COP29, three will receive sponsorship for funding and green job creation
Pakistan grants commercial license to Kuwait-backed Shariah-compliant digital bank
- Pakistan has announced that Raqqami Islamic Digital Bank aims to launch operations this month with $100 million investment
- Prime Minister Shehbaz Sharif calls for Kuwait and Pakistan to translate cordial political relations into strong economic ties
ISLAMABAD: Prime Minister Shehbaz Sharif granted the Kuwait Investment Authority-backed Raqqami Islamic Digital Bank (RIDB) the commercial license to operate in Pakistan on Tuesday, stressing the need to convert cordial political ties between the two countries into a strong economic relationship.
Pakistan’s finance adviser Khurram Schehzad announced last month that RIDB intends to launch operations in the South Asian country from February with a $100 million investment.
The RIDB describes itself as Pakistan’s first fully Shariah-compliant digital bank. The retail bank offers online financing, savings and payment services to individuals and small and medium-sized enterprises, also focusing on financial inclusion for underserved segments.
Prime Minister Sharif participated in a ceremony to grant the license to RIDB in Islamabad. The event was attended by top RIDB officials including its Chairman Abdullah Al-Mutairi and Chief Executive Officer Umair Aijaz.
“This would go a long way in further strengthening our brotherly and our bilateral economic relations,” Sharif told participants. “You said very aptly that economic and brotherly relations go hand in hand. It cannot be that your political relations flourish but economic relations remain stagnant.”
He said the Shariah-compliant digital bank will also have features that will support and augment banking in Pakistan.
Sharif called on both nations to join hands to promote their bilateral economic, investment and trade relations “like never before.” He vowed that Pakistan’s government was committed to enhancing bilateral trade and economic ties by working closely with the Kuwaiti government.
Pakistan’s banking sector is dominated by a handful of large lenders with strong capital buffers and profits driven largely by holdings of government securities.
Pakistan has intensified its efforts in recent years to secure foreign investment, particularly from Gulf nations, as it seeks to ensure sustained economic progress. Schehzad has said that the RIDB’s entry into Pakistan reflects strengthening investment ties between Islamabad and Kuwait, particularly in the financial and digital economy sectors.
