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Green financing in Pakistan’s transportation

Data were analyzed using thematic analysis, a widely sustainability, and climate action, focusing on advocacy
used approach in qualitative research for identifying and implementation of green finance initiatives. The
and interpreting patterns within textual data. Interview civil society participant brought experience in grassroots
transcripts were systematically reviewed and coded environmental initiatives and public engagement. The
to categorize emerging themes. The analysis focused international agency professionals provided a global
on stakeholder perspectives on policy frameworks, perspective on green finance, economic strategies,
financial mechanisms, sustainability challenges, and policy frameworks supporting sustainable
and institutional barriers. Thematic categories transportation. These participants played key roles
were established by grouping recurring responses, in policy formulation, research, implementation, and
facilitating a structured analysis of key findings. The advocacy related to green financing and sustainable
research instrument consisted of a self-developed semi- transportation. Their collective expertise contributed to
structured interview guide, designed to ensure flexibility a comprehensive understanding of the challenges and
in participant responses while maintaining a structured opportunities in integrating green finance into Pakistan’s
framework. The interview protocol was validated by transport sector. All the details of the respondents are in
two subject matter experts, whose recommendations Table 1.
were incorporated to enhance the clarity and relevance Following the demographic overview, the identified
of the instrument, ensuring alignment with the research’s themes and sub-themes from the thematic analysis are
objectives. presented below, providing a structured representation
Overall, this methodology enabled a comprehensive of the key findings and their alignment with the
exploration of green financing practices within interviewees’ perspectives related to them.
the Quadruple Helix framework, ensuring a multi-
perspective understanding of stakeholder viewpoints. 4.1. Theme 1: Challenges in mobilizing finance
The combination of semi-structured interviews and Green financing for sustainable transportation faces
thematic analysis provided valuable insights into significant financial, regulatory, and institutional
the financial and policy landscape of sustainable challenges in Pakistan. The availability, accessibility,
transportation in Pakistan. and efficient utilization of financial resources remain
To enhance the validity and reliability of findings, key concerns in scaling up green transport projects.
triangulation was employed by cross-verifying The lack of structured funding mechanisms, regulatory
qualitative insights with national policy documents and inefficiencies, and institutional gaps further complicates
secondary datasets. Interview responses were compared the mobilization of green finance.
against published reports from the SBP, the Ministry of
Climate Change, and international organizations such 4.1.1. Financial barriers
as the United Nations Development Program and the One of the primary challenges is the high cost of green
Asian Development Bank. This approach contributed transport infrastructure and limited funding sources.
to a more comprehensive understanding of stakeholder Green transportation projects, such as electric buses,
claims, reduced potential bias, and ensured consistency metro systems, and charging stations, require substantial
between emerging themes and policy-level evidence. upfront investments. Green transportation infrastructure
in Pakistan – such as electric buses, metro systems, and
4. Findings EV charging stations – requires high upfront capital,
which is currently unavailable at scale. According
A total of 14 participants were involved in the study, to the SBP (2023), Pakistan needs an estimated 7 – 9
including five government officers, two academic billion USD annually to meet its climate resilience and
scholars, three representatives from NGOs, one mitigation goals, with a significant portion required
civil society member, and three professionals from for the transport and energy sectors. However, <1%
international agencies. The government officers had of total domestic credit flows currently support green
extensive experience in policy and regulatory affairs initiatives, reflecting a severe financing gap. Despite the
related to climate change and transportation. The National EV Policy targeting 30% EV penetration by
academic scholars contributed expertise in sustainable 2030, only 1600 EVs were registered nationwide by the
transportation and climate insights into research end of 2022 out of more than 32 million total vehicles,
and policy development. The NGO representatives according to the Pakistan Bureau of Statistics and the
specialized in energy policy, environmental Ministry of Climate Change. This underlines the lack of

Volume 22 Issue 4 (2025) 115 doi: 10.36922/AJWEP025160121