In October 2023, collaborative efforts between Fatima Group and NACAG reached new milestones during a workshop held in Berlin. The discussions centered around identifying climate-friendly technologies, sustainable fertilizer production and exploring potential avenues for further cooperation.
Established in 1936 with a foundation in commodity trading, Fatima Group has expanded its portfolio to include the manufacturing of various products, notably nitrogen fertilizers. Presently, Fatima Fertilizers Limited operates four nitric acid production plants in Pakistan. The projected mitigation potential is substantial, amounting to 1.5 million tons of CO2 equivalents per year, roughly equating to 319,000 round-trip flights between Islamabad and Berlin.
Prior to the procurement and installation of mitigation and monitoring equipment, NACAG’s partner plant operators must undergo a comprehensive due diligence procedure. This involves a thorough assessment of the plant’s technical, legal, financial, and operational capacities, encompassing environmental, social, health, and gender safeguards.
Fatima Group has successfully completed the due diligence procedure in 2022, demonstrating its commitment to meeting NACAG’s rigorous standards. Consequently, Fatima is now qualified to receive financial support from NACAG.
Highlighting a steadfast dedication to climate-friendly production, Fatima’s access to funds is contingent upon the Pakistani government signing a Statement of Undertaking. This commitment signifies a pledge to foster climate-friendly nitric acid production. Upon endorsement, Pakistan will join the ranks of the 10 countries committed to an environmentally sustainable industrial transformation facilitated by NACAG.