ISLAMABAD: Climate Change Minister Senator Mushahidullah Khan, on Thursday said that putting a price on carbon emissions would help in increasing investments in green energy and reduced the carbon footprint.
Addressing the concluding session of the workshop on carbon pricing he said, “The government is cautiously evaluating options to introduce this instrument in a way that our economic pace is not compromised. The ministry has strengthened engagement with the United Nations Framework Convention on Climate Change (UNFCCC) secretariat through its Regional Collaborative Centre to evaluate the application of carbon pricing which can best fit with the national context and priorities while providing benefits in terms of the mitigation action and also for attracting international support for climate action”.
Carbon pricing, the method favoured by many economists for reducing global warming emissions —charges all those industries and organizations who emit carbon dioxide (CO2). The charge, called a carbon price, is the amount that must be paid for the right to emit one tonne of CO2 into the atmosphere. Nearly 40 countries and more than 20 cities, states and provinces are already participating in or preparing for a carbon price.
By 2020, carbon pricing is set to cover roughly 25% of global greenhouse gas emissions. The momentum to incorporate carbon-pricing approaches in national and sub-national climate policy is growing in the region.
The minister said that Pakistan has less than one percent share in the global carbon emissions but this share is expected to increase considerably as the country climbs over the development ladder and makes efforts to achieve energy security.
At the end of his address, he thanked the UNFCCC and Regional Collaborative Centre for their facilitation and guidance on possible options and effective means to benefit from the carbon pricing instrument on behalf of the Pakistani government.
A representative of the UNFCCC, Taimoor, appreciated the efforts of the Ministry of Climate Change in implementing the Paris agreement.
