IFC, Engro Corp to reduce plastic waste and minimise climate impacts for mega petrochemical project

To step up the fight against climate change in Pakistan, IFC is partnering with Engro Corporation to help reduce plastic waste, promote recycling, and boost the company’s energy efficiency. The project is part of IFC’S Pakistan Resource Efficiency Program, which aims to improve efficiency, cost-competitiveness, reliability, and productivity in the manufacturing sector, particularly in energy-intensive industries. IFC’S climate advisory project will help Engro Corporation assess the opportunities for moving toward a circular plastics economy as it develops a $1.8 billion petrochemical project to produce polypropylene. The circular system would see polypropylene products collected and reused or recycled and converted into viable products. IFC’S team will also assist Engro Corporation in driving sustainability by reducing its carbon and water footprints and adapting to climaterelated risks through targeted interventions. Pakistan is the second-largest domestic market for plastics in South Asia after India, and among the top 10 countries most impacted by climate change. The country produces about 30 million tons of solid waste annually, of which 9 percent is plastic waste through the is a major carrier of plastic waste into oceans. Ghias Khan, President and CEO of Engro Corporation, said: “We are actively partnering with global leaders such as IFC for a circular plastics economy, resource efficiency and carbon footprint reduction, to build a more sustainable future for our coming generations.”