Renewables and Just Transition

06:32 PM | 24 Jun, 2019
Renewables and Just Transition
Climate change affects everyone around the globe and has profound implications on human rights, social justice and economic opportunities. The world is now witnessing health-related issues, hunger, loss of livelihoods, and migration, which requires immediate and effective global action. It is clear that the world has to move towards low-carbon economies in order to thrive. Despite the known shared benefits of a clean-energy economy, the shift itself is disruptive for some people and communities.

The global climate change pact, also called the Paris Agreement, aims to control the climate impacts and requires nations to transition to net-zero greenhouse gas economies in the second half of the century. The Agreement also acknowledges the need for a just transition of the workforce and the creation of decent work and quality jobs as economies move towards low-carbon development trajectories. Putting it simply, just transition is a process that produces the plans, policies and investments that build resilient economies with green and decent jobs. Therefore, as society moves towards the target of zero-emission, the government, policymakers, businesses and broader climate communities have a responsibility of protecting the wellbeing of the vulnerable societies.

Despite being a relatively new topic in international climate policy, it has become the epicentre for labour protests and movements. Unfortunately, transition-related policies so far have often been shortsighted, without much planning for the people and communities involved. For instance, oftentimes the focus is on the shutting of a coal mine, but little to no attention is paid to the future of the miners, particularly their livelihoods.

Pakistan has immense potential for generating energy from renewable resources. Although the government has launched several renewable energy projects under China Pakistan Economic Corridor (CPEC), which is the main initiative for ending energy crisis of the country, these only form a small proportion of the energy mix and collectively only add 1,250 MW to the national grid. Hence the potential of renewable energy remains largely untapped for solar and wind, particularly in the Southern and Western regions of the country.

With such a high level of potential for renewable energy, Pakistan has the opportunity of not only ending the existing energy crisis with clean energy but also tackling socioeconomic challenges with the creation of green jobs, particularly for those involved in the fossil fuel industry. Setting up large scale renewable energy technologies is labour intensive and requires services of local skilled and unskilled labour for construction, operation and maintenance. This can massively help reduce poverty by providing steady income and can aid in just transition, as the country shifts from being high to the low carbon economy.

Reducing greenhouse gas emissions, and transitioning towards low-carbon economies has been a major debate in the international climate change space for years. Even in the UN’s ongoing climate change conference in Germany, major discussions have been centred around this topic. During the conference, Climate Analytics, a climate science and policy institute, launched their report on the potential of renewable energy in South and South East Asian countries. The report largely talks about the possibility for these countries to shift to renewable energy and the socioeconomic benefits for the communities. Speaking on the occasion, Bill Hare, CEO of Climate Analytics said, “By decarbonising the energy systems, South and South East Asian countries can make a fundamental difference in global efforts to limit warming to 1.5°C, in line with the Paris Agreement, and will reap large economic and sustainable development benefits by doing so.” Dr Fahad Saeed, Scientific Model and Data Manager at Climate Analytics said, “Shifting towards renewables has many benefits for developing societies, and creation of employment opportunities is one of them. This can greatly help people in remote areas, and reduce poverty and inequalities in society.”

Just transition requires a holistic approach and practical action. For a developing country like Pakistan, which is extremely vulnerable to the impacts of climate change, just transition is necessary not only for making communities resilient but for also ensuring social justice and peace. Boosting renewables can greatly help with job creation and aid in just transition. The government needs to closely analyze the benefits of renewables and make efforts in boosting this sector, which will ultimately enhance social justice and allow Pakistan to develop sustainably.


Pakistani rupee inches up against US dollar, Euro, Pound and other currencies - Check forex rates here

Pakistani rupee advanced its winning momentum against US dollar, and other currencies in the open market amid strong economic cues.

Dollar Rate in Pakistan Today

On Saturday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.

Euro moves down to 309.9 for buying and 310.5 for selling. British Pound rate stands at 359.4 for buying, and 360.05 for selling.

UAE Dirham AED also moved down to 77.45 whereas the Saudi Riyal drops to 75.82.

Today's currency exchange rates in Pakistan – 2 December 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.15  287.95 
Euro EUR 309.9  310.5 
UK Pound Sterling GBP 359.4  360.05 
U.A.E Dirham AED 77.45  77.6
Saudi Riyal SAR 75.82 75.97
Australian Dollar AUD 187.72 188.22
Bahrain Dinar BHD 759.94 767.94
Canadian Dollar CAD 209.99 210.49
China Yuan CNY 39.78 39.88
Danish Krone DKK 41.95 42.05
Hong Kong Dollar HKD 36.38 36.48
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.39 935.39
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 742.16 750.18
Qatari Riyal ‎QAR 78.5 79.2
Singapore Dollar SGD 212.45 212.95
Swedish Korona SEK 27.09 27.19
Swiss Franc CHF 325.38 325.88
Thai Bhat THB 8.05 8.09

Gold registers big fall in Pakistan; check today gold rates in Pakatan - 2 December 2023

The price of gold fell by thousands of rupees as precious metal lost shine despite an upward trend in the international market.

Gold Rates in Pakistan Today - 2 December 2023

On Saturday, the price of a single tola of 24-karat gold stands at Rs217,300 and 10 grams of 24k gold costs Rs186,300.

Meanwhile, single tola of 22 Karat gold costs Rs199,190, 21 karat rate costs Rs190,138 and 18k gold rate is Rs162,975.

Globally, gold prices hover at around $2072, gaining $32 on Saturday.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 217,300 PKR 2,705
Karachi PKR 217,300 PKR 2,705
Islamabad PKR 217,300 PKR 2,705
Peshawar PKR 217,300 PKR 2,705
Quetta PKR 217,300 PKR 2,705
Sialkot PKR 217,300 PKR 2,705
Attock PKR 217,300 PKR 2,705
Gujranwala PKR 217,300 PKR 2,705
Jehlum PKR 217,300 PKR 2,705
Multan PKR 217,300 PKR 2,705
Bahawalpur PKR 217,300 PKR 2,705
Gujrat PKR 217,300 PKR 2,705
Nawabshah PKR 217,300 PKR 2,705
Chakwal PKR 217,300 PKR 2,705
Hyderabad PKR 217,300 PKR 2,705
Nowshehra PKR 217,300 PKR 2,705
Sargodha PKR 217,300 PKR 2,705
Faisalabad PKR 217,300 PKR 2,705
Mirpur PKR 217,300 PKR 2,705


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