Govt engages US firm for carbon trading
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ISLAMABAD:
A five-member delegation from Minus 2 Degrees (M2D), a US-based company specialising in carbon neutrality solutions, met with Romina Khurshid Alam, Coordinator to the Prime Minister on Climate Change, at her office on Tuesday, according to a press statement. The meeting focused on carbon reduction strategies to address climate challenges and promote environmental sustainability.
Alam emphasised that Pakistan's carbon trading policy guidelines mark a significant milestone in establishing a national carbon market. These guidelines, she stated, are crucial for attracting green investments and helping Pakistan meet its climate commitments under the Paris Agreement.
"This initiative encourages businesses to adopt cleaner technologies and practices, facilitating the transition to a low-carbon economy," Alam said. "By operationalising these guidelines, we align with international standards and position Pakistan as a leader in carbon trading."
M2D presented a range of services focused on carbon neutrality, using advanced tools for emissions management and compliance with environmental standards.
During the meeting, Alam called for collaboration with local and international stakeholders to ensure the successful implementation of carbon trading guidelines. She underscored the importance of maintaining integrity and transparency in carbon credit generation. "This is a watershed moment for Pakistan's climate action journey," she remarked, urging developed nations to support emerging economies in leveraging carbon markets.
The delegation presented a portfolio of proposed projects to foster collaboration with the Ministry of Climate Change and Environmental Coordination (MoCC&EC) and other stakeholders. These initiatives align with Pakistan's climate priorities, including reducing greenhouse gas emissions by 50% by 2030, transitioning to 60% renewable energy, and expanding nature-based solutions.
Secretary of the Climate Ministry, Aisha Humera Moriani, encouraged the delegation to collaborate with the Board of Investment at the federal level and the Punjab government to promote net-zero carbon initiatives within the industrial sector. She also highlighted the importance of involving the business community in sustainability efforts.
Moriani highlighted Bangladesh's economic zone dedicated to similar climate objectives as a model for Pakistan. She stressed the need for comprehensive strategies integrating environmental responsibility into economic development.
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