Chinese companies to offset emissions by purchasing credits from Pakistan

Pakistan is looking at how to set up a carbon emissions market and has had discussions about how to link up the program with China- Bloomberg

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  • According to the World Bank data, Pakistan’s pollution levels increased in recent years.
  • According to the government, official PM Khan’s administration has formed a committee to review proposed mechanisms.
  • Moreover, Pakistan will help Chinese companies to offset the emissions they produce.

 emissions

Pakistan is gearing up to set a carbon emissions market. Many discussions have already been carried out on how to link the program with China, Bloomberg.

According to the government, PM Khan’s administration has formed a committee to review proposed mechanisms. Moreover, the main objective of the committee is to pull out the proposals with maximum potential to expand global trade in pollution.

Chinese Companies

Moreover, it will provide help to Chinese companies to offset the carbon emissions they produce.

“We are looking at a credit-based market initially, which means you can offset in Pakistan and you can sell to bilateral countries,” said Malik Amin Aslam, advisor to the prime minister on climate policy.

It will be better if more countries will start taking action in this regard, Mark Lewis, global head researcher.

According to the World Bank data, Pakistan’s pollution levels increased in recent years.

Purchasing Credits

Furthermore, China is building its own national carbon market, as the country is the world’s biggest polluter. Moreover, Malik Amin Aslam said that Chinese companies would offset emissions by purchasing credits from Pakistan.

Pakistan has hired consultants to examine whether “that data reliability is there and how we can improve that,” Amin Aslam said.

Consultants said preparations will take two to three years, “but I told them to do it in six months,” the official said. Moreover, “It’s very complex, but it is beneficial for those who have data reliability — if there’s no reliability then it doesn’t work.”


Also See:

Here’s What Pakistan’s “Five-Point Agenda” For Climate Change Mitigation Includes

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