Inaugural Asia Energy Transition Summit Hosted at LUMS

The LUMS Energy Institute, in partnership with the Pakistan Renewable Energy Coalition (PREC), the Sustainable Development Policy Institute (SDPI), Pakistan Research Institute for Equitable Development (PRIED), and Renewables First, hosted the inaugural session of the Asia Energy Transition Summit on September 28-29. This groundbreaking event convened leading experts from academia, industry, and government to discuss the region's path towards sustainable energy.

The two-day summit provided a robust platform for dialogue, with participants sharing insights on how to overcome barriers in transitioning to cleaner energy systems. Key issues discussed included energy access, affordability, and environmental challenges facing South Asia. It also highlighted the need for regional cooperation to accelerate renewable energy adoption, reduce dependence on fossil fuels, and improve energy efficiency.

The event kicked off with an address by Mr. Shahid Hussain, Rector, LUMS, who welcomed the attendees. In his opening remarks, Dr. Ali Cheema, Vice Chancellor, LUMS, underscored the urgent realities of climate change, stating that "Pakistan is now ground zero of the climate crisis”.

Emphasising a crucial challenge for the country, he stated, “For an average Pakistani, energy costs amount to 65% of their income. We have one of the highest rates of increase of per-unit electricity cost in the world. So, in Pakistan, the energy question is very integrally linked to the affordability question.” He also stressed the need to reform regulatory structures to enable meaningful change.

The summit featured a range of notable speakers who provided valuable insights into the challenges and opportunities surrounding Pakistan’s energy transition. The Governor of the State Bank of Pakistan, Mr. Jameel Ahmed, in his address, called attention to countries like Pakistan that are highly vulnerable to climate change but lack the necessary resources for energy transition.

Federal Power Minister, Mr. Awais Ahmed Khan Leghari, stressed the need for innovative financial solutions to drive Pakistan’s energy transition. He proposed leveraging Chinese expertise in renewable energy, focusing on knowledge transfer, infrastructure development, and technical training.

Federal Planning and Development Minister, Mr. Ahsan Iqbal emphasised Pakistan's potential to generate renewable energy from wind and solar sources, stating that “mobilising both private and public finance is essential to realising this potential.”

Dr. Fiaz Chaudhry, Chairman, National Transmission and Despatch Company, and Senior Advisor at the LUMS Energy Institute shared his insights on the financial and technical aspects of the energy transition.

Meanwhile, Senator Sherry Rehman addressed the need for innovative financing solutions to combat climate change and facilitate the energy transition, drawing from her experience as the former Federal Minister for Climate Change.

Also present at the event were Sindh Energy Minister, Mr. Nasir Hussain Shah and Former Minister of State for Environment, Mr. Malik Amin Aslam who shared their perspectives on provincial decentralisation and integrating climate-resilient policies respectively.

The summit paved the way for a collaborative and unified approach towards a sustainable energy future in the region. As participants reflected on the discussions and insights shared, there was a renewed commitment to mobilising resources, fostering regional cooperation, and implementing effective policies that can transform Pakistan's energy landscape for the better.