Karachi, November 13: Committed to transparency, responsible practices, and building a sustainable energy future, K-Electric unveils its Sustainability Report 2023. Themed “Powering Possibilities”, the report illustrates the on-going efforts of the organization in setting targets and executing interventions that ensure progress towards the company’s sustainable future.
At this occasion, Moonis Alvi, Chief Executive Officer, KE said, “The energy sector faces its own trilemma – Sustainability, particularly Climate Change, Affordability, and Energy Security – to achieve sustainable goals and striking the right balance between these elements is imperative for the effective functioning of the energy ecosystem. As we navigate through these difficult times, the responsibility we have towards our customers, shareholders, the environment, and the communities we serve drives our actions. This report highlights our progress, challenges, and our ambitious vision for a sustainable future.”
The report contains information about KE’s operations from the Company’s Fiscal Year 2023, from July 01, 2022 to June 30, 2023 and includes both quantitative data and qualitative insights. With reference to the Global Reporting Initiative (GRI) Standards, KE’s commitment and efforts have been showcased under 11 of the 17 UN Sustainable Development Goals (SDGs) in the report. The SDGs broadly include ‘Good Health and Well-Being’, ‘Quality Education’, ‘Gender Equality’, ‘Clean Water and Sanitation’, ‘Clean Energy’, ‘Economic Growth’, ‘Industry, Innovation, Infrastructure’, ‘Reduced Inequalities’, ‘Sustainable Cities & Communities’, ‘Responsible Consumption’, and ‘Climate Action’.
During FY 23, KE has achieved an impressive 23% reduction in Greenhouse Gas Emissions compared to FY 22, a success attributed to the integration of highly efficient energy generation. Towards sustainable cities and communities, KE has invested around PKR 150 million in rehabilitation works. By introducing several key environment-friendly initiatives such as Hara Qadam and conversion of customers towards paperless billing, KE has saved over 4,000 trees, 94,000 kg of waste, and 200 million liters of water.
This year, KE has also reached 57,000 children through its School Safety Campaign in 17 hazard prone areas of Karachi. Furthermore, KE continued to spread awareness about safety through its flagship Roshni Baji program as 50 Roshni Bajis reached out to 200,000 households in FY23, taking a cumulative total to over 660,000 households over 3 years from FY21 to FY23. KE also celebrated closing the pay gap for 90% its female workforce with a commitment to make it 100% in FY 24.
In essence, KE’s Sustainability Report serves as a beacon of organizational commitment to sustainability, setting a high standard for the power sector. The company illustrates that focusing on sustainability is not merely an environmental imperative but also a strategic business decision, showcasing how aligning operations with sustainable practices can enhance overall performance and elevate stakeholders’ trust.
K-Electric (KE) is a public listed company incorporated in Pakistan in 1913 as KESC. Privatized in 2005 KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 km square territory including Karachi and its adjoining areas. The majority shares (66.4%) of the company are listed in the PSX owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan is also a minority shareholder (24.36%) in the company.