Engro Foundation to implement forest restoration programme
KARACHI: Engro Foundation signed a letter of understanding with the Ministry of Climate Change and World Wildlife Fund (WWF) to develop a forest restoration and carbon offset programme, a statement said on Thursday.
The Engro Foundation, which is the social investment arm of the Engro Corporation, will work alongside the government stakeholders and respective provincial forest departments to offset a portion of Engro’s greenhouse gas emissions, it added.
The forest restoration and carbon offset programme will be implemented over a 10-year period with an estimated cost of approximately Rs600 million, with the goal of planting and protecting 50,000 acres of forest area across Pakistan with WWF providing technical expertise for implementation of the programme.
“Pakistan is the fifth most vulnerable country to climate change and we must take immediate actions to address the adverse effects of global warming,” Engro Corporation president and chief executive officer and trustee of Engro Foundation Ghias Khan said.
“The government’s initiatives to prioritise the sustainability agenda are commendable and Engro stands committed to play its part to reduce greenhouse emissions and protect forest area. As we manage the transition to sustainability at Engro, we are working aggressively towards developing our net zero ambitions and promoting renewable energy across all business verticals,” he added.
WWF Pakistan director general and CEO Hammad Naqi Khan said: “Climate change is real and it is contributing to extreme weather events, droughts, floods and heat waves. With Pakistan facing one of the highest deforestation rates in Asia, it is heartening to see corporate organisations making committed efforts for a sustainable future.”
“Through large-scale forest rehabilitation and plantation, we are not only increasing tree cover, but are equipping frontline communities to become more resilient,” he added.
Engro continues on its path to become a sustainable organisation, while fostering ideas that help in delivering on the organisation’s purpose. Recently, Engro became the first company from Pakistan to sign a commitment, sponsored by the World Economic Forum’s (WEF) International Business Council, to adopt and implement stakeholder capitalism metrics.
Engro Polymer and Chemicals, a subsidiary of Engro Corporation, is also implementing a comprehensive circular economy programme and has become the first affiliate member from Pakistan to join the WEF Global Plastic Action Partnership.
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