AKF Pakistan and GIZ to support three ‘climate-smart projects’ in Gilgit-Baltistan and Chitral
ISLAMABAD: The Aga Khan Foundation Pakistan and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) will support three selected projects to receive grant from the Regional Climate Smart Business Challenge Facility (CSBCF) to foster climate-smart business solutions in Gilgit-Baltistan and Chitral regions in Pakistan.
The CSBCF program seeks to address the pressing challenges of climate change and promote sustainable business practices in target countries by focusing on the agriculture and water nexus. Supporting innovative and environmentally friendly business ideas, the program aims to create opportunities for economic growth while simultaneously mitigating the impact of climate change.
Following an extensive evaluation process, the three selected grant winners from Pakistan intend to promote climate regenerative agriculture, reducing carbon footprint and reversing climate change through carbon trading and transform barren lands into green pastures. Implemented through AKRSP, the selected Pakistani companies will be introducing and promoting climate resilient high value saffron and rosa damascene crop in District Chitral Khyber Pakhtunkhwa, developing and implementing a user-friendly carbon credit application and digital trading platform to facilitate climate action and transform barren lands into green pastures using mobile solar pumps in Gilgit.
CSBCF program will provide not only financial support but also technical assistance and mentorship to the selected SGBs, enabling them to develop and implement climate-smart business models that benefit both the environment and the economy.
Speaking at the opening ceremony, the Chief Executive Officer of the Aga Khan Foundation Pakistan Mr. Akhtar Iqbal, noted, “The regional pilot project will serve as an important milestone creating a financially sustainable regional climate facility that promotes greater awareness raising, knowledge sharing and innovations on climate resilience both in Pakistan and in wider Central and South Asia”.
The Climate Smart Business Challenge Facility (CSBCF) is a pilot project implemented by Aga Khan Foundation Tajikistan in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). This project is supported by the IKI Small Grants program, which is part of the International Climate Initiative (IKI) and financed by the German Federal Ministry of Economic Affairs and Climate Action (BMWK) in close cooperation with the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV) and the Federal Foreign Office (AA).
