New Year, New Fear
Zero-point Partners
An advisory and project management firm focused on enabling the transition to a sustainable economy.
Welcome to the twenty-first edition of The Green Guild, Zero-Point Partners’ newsletter, where you get a quick rundown of how the earth is doing.
December Round-up: What's new?
The Local Edit
Pakistan Advocates for Global Climate Action at the International Court of Justice. Pakistan’s Attorney General, Mansoor Usman Awan, presented an oral statement at the International Court of Justice (ICJ) in The Hague, addressing the obligations of states concerning climate change. The case, stemming from a UN General Assembly resolution, seeks the ICJ’s advisory opinion on states' responsibilities in combating climate change. Pakistan emphasized its vulnerability to climate change impacts and called for global cooperation guided by the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC). The ICJ's advisory opinion is expected to offer much-needed direction for international climate action.?
IFC Invests USD 35 Million in Pakistan's First Sustainable Aviation Fuel Facility. The International Finance Corporation (IFC) is providing up to USD 35 million in equity and debt financing to SAFCO Venture Holdings Limited to establish Pakistan’s first greenfield sustainable aviation fuel (SAF) facility in Sheikhupura, Punjab. The plant will convert 250,000 tons of used cooking oil and waste oils annually into SAF, reducing over 500,000 tons of CO2 emissions each year. The 200,000-tons-per-annum facility will also create 300 direct jobs and 20,000 indirect roles within the waste-to-fuel value chain while contributing to foreign exchange through SAF exports. IFC’s investment includes USD 30 million in equity, USD 5 million in debt, and additional funding through a climate-related finance program. SAF, derived from renewable resources, can cut greenhouse gas emissions by up to 94% compared to conventional jet fuel, supporting the circular economy in Pakistan and fostering sustainable growth.
UN Partners with DawnMedia for ‘Breathe Pakistan’ Climate Conference. The United Nations office in Pakistan has announced its partnership with DawnMedia for the two-day ‘Breathe Pakistan’ climate change conference, scheduled for February 6-7, 2025, in Islamabad. The event aims to spotlight the severe impacts of climate change in Pakistan and South Asia. Mohamed Yahya, UN Resident and Humanitarian Coordinator in Pakistan, emphasized the conference’s importance in highlighting the region’s vulnerability to global warming and mobilizing action across sectors. DawnMedia CEO Nazafreen Saigol-Lakhani called for collective efforts to reclaim the environment and drive policy changes for a climate-resilient future.?
Lahore Installs Pakistan’s First Anti-Smog Tower to Combat Pollution. Pakistan's first anti-smog tower has been installed in Lahore’s Mehmood Booti area to address rising air pollution. Developed by an Islamabad-based private company, the tower can purify 50,000 cubic meters of air per hour and 1.2 million cubic meters daily using electrostatic charges to capture pollutants. The initiative, led by the environmental protection department, aims to test the tower’s efficiency over a 15-day trial period, with plans for broader implementation if successful.?
Punjab Launches Green Credit Programme to Empower Environmental Action. The Punjab government has introduced the Green Credit Programme in Lahore to actively engage citizens in environmental protection through financial incentives. Under the initiative, participants can earn Green Credits, each valued at PKR 10,000, by undertaking 29 pre-identified eco-friendly actions, such as tree planting, rooftop gardening, waste management, and renewable energy adoption. Citizens can register and submit evidence of their contributions via a dedicated government website. Environment Secretary Raja Jahangir Anwar highlighted the program’s user-friendly registration and verification process, ensuring transparency. By rewarding individuals for sustainable practices like using bicycles or e-bikes, planting native trees, and reducing carbon emissions, the initiative aims to foster a greener Lahore.
BNU and JS Bank Launch Policy Briefs to Propel Climate Finance and Sustainability Efforts. Beaconhouse National University (BNU) and JS Bank’s Chair for Sustainable Finance and Fintech hosted a Policy Briefs Launch Event on December 23, 2024, focusing on sustainability and climate finance. The initiative highlights BNU’s commitment to integrating sustainability into academics and empowering students to drive climate-related solutions. Dr. Moeed Yusuf, BNU Vice Chancellor, emphasized the importance of student participation in climate finance efforts, while Dr. Jamshed Ali, Assistant Professor and JS Bank Chair, addressed Pakistan’s urgent need to increase climate financing eightfold to meet global goals. With policy briefs, seminars, and an upcoming sustainable finance course, the collaboration aims to cultivate environmentally conscious leadership in Pakistan's financial sector and foster sustainable change.
The Global Edit
Controversial Plan to Refreeze Arctic Sea Ice Shows Promising Early Results, but Scientists Warn of Risks. A UK startup, Real Ice, is testing a bold plan to refreeze Arctic sea ice by pumping seawater onto the surface to create thicker ice, aiming to slow or reverse summer ice loss and mitigate climate change. Trials in Canada’s Cambridge Bay have shown promising results, with ice thickness increasing by up to 31 inches in test areas. Real Ice envisions scaling up the project within a decade using automated underwater drones powered by green hydrogen, potentially covering 386,000 square miles of Arctic ice at an estimated annual cost of USD 5-6 billion. While some scientists support the idea as a last-ditch effort to protect a shrinking ecosystem, others raise concerns about scalability, ecological risks, and the ethical implications of such geoengineering interventions.
California Revamps Insurance Rules to Address Wildfire Risks. California has introduced new insurance regulations to increase the availability of homeowners and renters insurance in wildfire-prone areas, where climate change has made insurance hard to obtain. The revised rules require insurers to use advanced computer models, considering factors like weather and geography, to set rates instead of relying on past losses. In exchange for regulatory concessions, insurers like State Farm and Allstate must write policies in high-risk areas, covering 85% of homes in those neighborhoods. While environmental and farming groups support the changes, consumer advocates warn that the rules could lead to higher premiums without significantly expanding coverage.
Chinese Firm Involved in Billion-Euro Carbon Credit Scam. A DW and ZDF investigation uncovered a massive carbon credit fraud involving a Chinese firm, Beijing Karbon, and dozens of projects approved by German authorities. The firm generated approximately EUR 1 billion in carbon credits by falsely presenting preexisting oil field projects as new initiatives eligible for carbon-saving credits. Despite documentation indicating the projects were operational before their approval, German officials, relying on outsourced auditing firms, overlooked the discrepancies. Major companies like Shell, Exxon, and BP bought these fraudulent credits, which were meant to help meet their climate goals. The scandal, involving potential collusion with auditing companies and the German Environment Agency, has led to investigations and the suspension of several projects.
Barbados Launched the World's First Debt-for-Climate-Resilience Operation. Barbados has secured USD 125 million in savings by replacing expensive debt with more affordable financing for the world’s first debt-for-climate-resilience operation. This deal, backed by USD 300 million in guarantees from the Inter-American Development Bank (IDB) and European Investment Bank (EIB), will fund critical water and sewage infrastructure upgrades, including a new water reclamation facility to enhance water security and agricultural irrigation. The financing is structured as a Sovereign Sustainability-Linked Loan, with performance tied to the volume and quality of reclaimed water. This innovative model aims to boost climate resilience and supports the country’s commitments under the Paris Agreement.
North Carolina Town Sues Duke Energy Over Climate Change Accountability. Carrboro, North Carolina, has sued Duke Energy, alleging the utility concealed climate change risks for decades while increasing fossil fuel use, disproportionately harming underserved communities and costing residents millions in climate-related damages. Filed in North Carolina Superior Court, the lawsuit claims Duke deliberately misled the public and delayed transitioning to clean energy. Carrboro’s Mayor, Barbara Foushee, emphasized the need for accountability, highlighting the environmental and health impacts on marginalized populations. Duke Energy, ranked the nation’s third-largest greenhouse gas emitter, stated it is reviewing the complaint and remains committed to cleaner energy solutions.
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Events to Enhance the Environment – EEE
Local Calendar
Global Calendar
Our Efforts
Our team members participated in the following events in December:
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