There is good news pertaining to the environment and economy of Pakistan. As experts maintain, with a proper strategy and policy in place, Pakistan could earn as much as $2.25 billion per year through carbon trading alone. A Pakistan Tech News report suggests that the government and private sector are gearing up to increase their share in the carbon market.
It is a system in which countries or companies, in return for reducing their carbon emissions, get credits that they can sell in the international market. This can be a source of new revenue for developing countries like Pakistan, especially their industries working on renewable energy projects.
Now the government is working to create a National Carbon Registry, which makes the process transparent and traceable, officials say. Pakistan will, therefore, officially register its green projects, such as tree plantations and renewable energy projects, and generate carbon credits through this mechanism.
The experts foresee that this program will not only attract foreign investment but it will also result in a sustainable impact on the environment in Pakistan if the certification and reporting mechanisms are devised in line with international standards.
As per the analysis of Pakistan Tech News, this initiative can bring double benefits to the country: on one hand, efforts against climate change will be strengthened, and on the other hand, foreign exchange reserves will increase too. And if this program is implemented fully until 2026, then Pakistan can be the first country in South Asia that earns meaningful earnings from the carbon market.Presently, the government, along with environmental experts, is working on the policy framework, and it is expected that by the start of next year, its practical implementation will begin.
Check Our Latest News
Nationwide Smart Meters Launched: Lower Bills Start Today
