Page 61 - CMA Journal (Nov-Dec 2025)

Focus Section

Stakeholders and regulators seek reliable and verifiable incentives can accelerate implementation, first at the
sustainability information, and solar drying systems can local level and eventually linking initiatives to the
provide tangible metrics, energy generated, emissions national level.
reduced, and operational savings, thereby strengthening
Some organizations in Pakistan, including the State Bank
ESG reporting. Reducing climate-related risks and of Pakistan and SECP, have incorporated green innova-
enhancing portfolio resilience presents future
tions into sustainable finance policies, encouraging disclo-
opportunities for banks and financial institutions, sure, enhancing transparency, and directing financial
promoting sustainable banking practices as they fund
institutions toward environmentally- based investments.
green technologies.
Innovation ecosystems can be strengthened through
Innovation Beyond Technology: Business
and Financial Models pilot projects, applied research, and local production
with public sector support. Collaborations among
Green technologies are not only effective in improving universities, businesses, and policymakers are crucial to
production processes, but they also enable innovative adapting technologies to local climate and
delivery mechanisms. Solar dryers, for example, can be socio-economic conditions.
tailored to local needs and repaired as necessary, but Challenges and the Way Forward
small businesses and local communities often cannot
afford high-cost solutions. Green technologies can The main obstacles to large-scale adoption of green
therefore become more accessible through business technologies in Pakistan include low awareness, limited
models such as cooperative ownership, leasing, technical skills, inconsistent policy implementation, and
pay-as-you-use systems, and service-based approaches. high startup costs. These challenges can be addressed
In addition, performance-based and results-linked through multi-stakeholder collaboration, implementing
financing mechanisms can attract private capital and strategies such as capacity building, demonstration
donor funds. projects, consistent impact evaluation frameworks, and
inclusive finance models. Green technologies should be
Collaborations between financial institutions and
integrated into national economic planning rather than
technology providers can deliver customized products
that reduce initial investment costs while ensuring treated as externally funded or peripheral activities.
long-term sustainable results. These alliances show that About the Author: Engr. Shakir Ali holds a Master’s degree in
innovation extends beyond technology to financial and Electrical Power Engineering from Mehran University of Engineering
institutional structures. and Technology, MUET, and NED University of Engineering and
Policy and Institutional Enablers Technology, Pakistan. He has 7 years of industry experience with
K-Electric and over 12 years of teaching experience. He is currently an
Strong policy and institutional support are critical to Assistant Professor and Ph.D. scholar at MUET. His research focuses
maximizing the adoption of renewable energy on energy systems, artificial intelligence, and smart grids, with
several publications in reputable journals and conferences.
innovations. Clear regulations and targeted fiscal

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