Lasbela chamber’s chief calls for setting up of ‘carbon exchange’

KARACHI: A Carbon Exchange to deposit the carbon credits the industries earn is a dire need for Pakistan, said Ismail Suttar, President of Lasbela Chamber of Commerce and Industry while addressing a workshop jointly organize by Lasbela Chamber and WWF Pakistan on “Towards Zero Emissions: Sustainable Industry and Climate Action”.

He said that Pakistan ranks among the countries that have the lowest emissions as compared to the developed countries including the USA, USSR, China, and European countries because of comparatively lower industrial activity in the country. Pakistan could benefit from this scenario and earn handsome money through these credits.

Presiding over the workshop, Ismail said that if the chambers representing the industrial sectors in the country join hands for the establishment of the Carbon Exchange, the proposal would lead to a source of support for the economy and improve the image of Pakistan as an environment-friendly country.

He also suggested that for launching training programs leading to the implementation of the global standards and conventions. We should first consider the ground realities of our country, check our resources, and discuss with the sponsoring agencies in the context of our needs and requirements, he said. “It would make such programs useful for the country and would add value to the environment, climate, and economic challenges faced by us.”

Ismail Suttar explained the great potential of the province of Balochistan in the field of minerals. So far this wealth of Pakistan is mostly untapped. The minerals explored and mined far are mostly exported as raw material, while Pakistan could increase its earnings on exports multiple times if the minerals are converted to value-added finished products and chemicals. This would also generate thousands of employment opportunities for the people of the province, he said.

Imran Saeed, Deputy Director of the Environment Protection Agency, Lasbela appreciated the initiative of the Lasbela Chamber and WWF to hold this useful workshop.

Copyright Business Recorder, 2023