Karachi, Pakistan, January 10, 2023 — 13 companies signed a pledge today committing to advance the participation of their women employees in tackling climate change, as part of a new initiative launched by IFC and the Pakistan Business Council (PBC).
The Climate2Equal initiative, launched today in Karachi, will establish a peer learning platform bringing together more than 90 Pakistani companies from the sectors hardest hit by climate change, including textiles, manufacturing, telecommunications, e-commerce, and logistics. The aim is to support these companies in implementing gender-responsive climate action plans.
Members will be offered trainings and webinars and be able to exchange information and strategies to develop effective plans. IFC and PBC will also provide more in-depth capacity building to companies that make and implement pledges regarding gender and climate and showcase best practice and testimonials to provide a demonstration effect.
"I am certain the pledges made today by leading members of the business community will be instrumental in ensuring that women employees, managers, and decision-makers are at the forefront of designing climate-smart solutions to address the impact of climate change in Pakistan," said Ehsan Malik, Chief Executive Officer of the PBC.
According to the Country Climate and Development Report (CCDR) released by the World Bank Group in November 2022, women are likely to be disproportionally affected by the floods due to their limited access and availability to social protection and coping mechanisms. This is especially true for women working within the agriculture sector, the largest employer of women in Pakistan.
IFC and PBC will hold several events and webinars for the companies over the next few months, inviting prominent national and global experts to showcase the benefits of women contributing to business-led climate action and profitability.
"Recognizing the connection between gender and climate action is essential in adapting to climate change and putting women at the center of decisions by businesses in this context is going to be critical," said Zeeshan Sheikh, IFC Country Manager for Pakistan and Afghanistan. "We were delighted that Pakistan is amongst the first countries in the region where the Climate2Equal initiative is being launched by IFC and we are pleased by the strong support received from the business community."
The Climate2Equal initiative falls under the umbrella of IFC's Pakistan2Equal project, which aims to advance the participation of women in the workplace and incorporate climate action to help boost Pakistan's economy.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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