Pakistan could earn $1 billion a year from carbon credit exports, experts

Voluntary carbon credit market is rapidly emerging due to climate change legislation, Pakistan could earn $1 billion annually by exporting carbon credits.

Director of Climate Action Center Yasir, Mujtaba Baig and environmental consultant Zoya Tanyu said that although Pakistan’s share in the world’s environmental pollution is less than one percent, but due to climate change, Pakistan is suffering an economic loss of 4 billion dollars annually.

The increase in temperature not only increases the amount of toxic gases in the atmosphere, but also damages the wheat and cotton crops, while reducing the working capacity of a person, the public health bill also increases.

Experts say that if one ton of carbon dioxide is absorbed from the atmosphere through horticulture and agriculture, it will be a carbon credit. A carbon credit from Pakistan can be sold in the global market for 10 to 15 dollars.

Forecast of rain in different cities of the country

While giving a briefing, experts said that the size of the voluntary market of carbon credits has reached 950 billion dollars, which is continuously increasing. A consultant report and its third party verification is the basic requirement for carbon credit.

Experts said that a large amount of green gases are becoming toxic to the air or climate due to the discharge of untreated water from factories and vehicles into the sea. Pakistan is also a signatory of the France Post-Industrialist Net Temperature Agreement under which we have to limit our temperature net increase to 1.5% but on the contrary only in Karachi the rate of net increase is 2% for the last 10 years.

According to the Climate Action Center, the global market of carbon credits is 50 billion dollars, but on the contrary, OCCI has estimated that the market of carbon credits in the world has reached 500 billion dollars. is

On the demand of foreign buyers, the export industries of the textile sector in Pakistan have started reporting pollution in the manufacturing of their products. Sources say that if the exporters of Pakistani products do not voluntarily report the pollution, then after 2028, their exports to the global markets may be at risk.