Experts say that utilizing the CPEC's potential is essential for increasing access to green finance and clean energy.

At a seminar on Thursday titled High Level Symposium on "Renewable Energy Collaboration under CPEC: A Diplomatic Discourse," Chinese and Pakistani experts claimed that by utilizing long-standing diplomatic ties with China, it is possible to mobilize the crucial funding for increasing Pakistan's access to affordable and clean energy.

According to a news release, the conference was put on by the Pakistan-China Institute and the Sustainable Development Policy Institute (SDPI).

Dr. Abid Qaiyum Suleri, executive director of SDPI, stated that the global community is affected by the climate problem, which is amplified by the continued use of dirty fuels, regardless of geography or economic situations. While nations are implementing renewable energy transitions in response to the climate problem, energy inflation resulting from the Russia-Ukraine conflict presents itself at the domestic level in the form of rising energy prices and angry populations, as is currently happening in Pakistan. Recently, there have been 6.1 million units of electricity theft discovered, and Pakistan must rely on China's experience in developing green and clean energy programs with workable and useful solutions.

According to Dr. Hassan Daud Butt, Research Fellow SDPI, BRI has already created US$1 trillion in economic activity, making it a ray of hope for global cooperation and development.

According to him, Pakistan was suggested under BRI as a test case for increasing the nation's energy supply, with the aim of achieving a 30% rise in the renewable energy industry by 2030.

He urged the government to make proactive proposals to China in order to establish favorable policy conditions for the promotion of renewable energy.

He emphasized the necessity for practical strategies, resilient policies, and using CPEC as a springboard for massive clean and green energy programs.

Chinese businesses invested 655 million in the Punjab and AJK regions through the Community Investment Plan (CIP), according to N. A. Zuberi, Senior Advisor, China Three Georges South Asia Investment, Ltd. Additionally, the company has created three wind power projects with a combined installed capacity of 49.50 MW with rates under 5%.

He emphasized the significant difficulties faced by Chinese investors in Pakistan including payment delays from CPPAG for CSAIL renewable projects, circular debt, significant yearly losses of $250 million owing to non-operational projects, delayed shipments, and significant payments for damages.

BRI International Green Development Coalition Senior Specialist Xiao Pang emphasized the importance of utilizing CPEC to hasten the adoption of renewable energy sources and significantly lower carbon emissions.

He placed a strong emphasis on pre-feasibility studies to entice investors, capacity-building programs, and assembling a group of professionals committed to developing green ideas.

The CPEC Centre of Excellence's Executive Director, Dr. Liaquat Ali Shah, emphasized the importance of developing institutional capacity and policy integration by fusing industrial green policies with industry and energy policies. He underlined that the focus on renewable energy should go beyond energy generation and include energy efficiency and conservation, noting that obsolete infrastructure can result in higher expenses.

Impetus Advisory's founding partner, Taimur Adil, emphasized the importance of looking into financing options for green energy projects, such as private equity, as well as of taking advantage of the investment opportunities in the Gulf.

He pushed for improving government departments' capabilities, especially through the use of metrics and dashboards to find bottlenecks and coordinate energy development initiatives.

In order to address the affordability crisis, Dr. Khalid Waleed, Research Fellow SDPI, promoted energy transition alternatives, including the creation of JETPS to mobilize funding.

He called for boosting regional and bilateral diplomatic ties as well as investing in transmission infrastructure rather than generation.

He also emphasized the potential for China to move manufacturing to Pakistan, where it could take advantage of Pakistan's labor-intensive workforce and benefit from its enormous financial resources.