Faiza Tehseen

Achieving carbon neutrality is not just an environmental necessity for Pakistan but a matter of attaining a sustainable socio-economic future, opined Muhammad Saleem, media spokesperson for the Ministry of Climate Change & Environmental Coordination, while talking to WealthPK. He said, “Pakistan is highly vulnerable to the effects of climate change and is confronting inadequate financing to cope with the socio-economic consequences of this natural phenomenon. So, it is crucial to tap carbon neutrality and the associated financial and environmental benefits. “Globally, carbon neutrality has emerged as an unprecedented goal widely addressing the troika of environmental degradation, climate vulnerability and economic crisis. Bankable projects are important to initiate, especially those related with socio-economic sectors including agriculture, water, energy, health, education and infrastructure.”

Saleem said, “Being vulnerable to climatic impacts, Pakistan has to face several exacerbating threats mainly from floods, droughts, heatwaves, cyclones and the rise of sea-level. All these natural disasters cause serious socio-economic loses. By enhancing socio-economic resilience to climatic risks, Pakistan can cope with these problems. It will also help Pakistan better manage its diminishing resources like water and arable land decreases.” He said carbon neutrality was also vital for improving the public health and well-being. Pakistan's reliance on unavoidable fossil fuels has led to severe air and water pollution, contributing to respiratory illnesses and premature deaths. A shift towards cleaner energy sources would reduce pollution, improve the quality of life of citizens and ease the burden on the healthcare system. A healthier population, in turn, is more productive and better equipped to contribute to the nation's development.

“We also understand that as Pakistan moves on the green economy pathways, with commitment to tapping carbon neutrality, it would be better positioned to attract international investments, grants, and partnerships. Pakistan's efforts in this direction would enhance its global reputation and open doors to financial and technological support from international organizations focused on climate action. Additionally, aligning with the global climate goals would help Pakistan secure favorable trade agreements with environmentally conscious markets”. However, transitioning to a low-carbon economy offers Pakistan immense opportunities for economic growth and job creation while tackling the fallouts of climate change. Investments in renewable energy can reduce dependence on fossil fuels, lower the energy costs, and create thousands of green jobs.

“The country’s vast potential for renewable energy, especially solar, makes this transition feasible and economically beneficial. Developing local expertise in clean energy technologies can help Pakistan foster innovation, establish new industries, and increase exports, all of which contribute to a stronger economy,” added Muhammad Saleem. Talking to WealthPK, Deputy Director of Pakistan Forest Institute, Peshawar, Muhammad Atif Majeed said, “The role of the forestry sector is critical to achieving carbon neutrality for a sustainable socio-economic future. Forests play a vital role in absorbing carbon dioxide emissions. However, decades of deforestation and land degradation have resulted in significant biodiversity and forest cover loses. The forests are facing unprecedent threats due to deforestation, urbanization, and climate change.

He said, “Forests have the potential to absorb millions of tons of carbon dioxide emissions and an urgent action is required to protect and restore them. Pakistan is highly vulnerable to the impacts of climate change. The rising temperatures, changing precipitation patterns, and increased frequency of extreme weather events are already affecting agricultural productivity, water availability, and human health.” Carbon neutrality is both an economic and environmental imperative. The protection and restoration of forests will open new job opportunities, stimulate local economies, and ensure a sustainable future for the coming generations. The private sector can also play a critical role in promoting sustainable forestry practices, with companies investing in reforestation efforts and sustainable wood sourcing.

Credit: INP-WealthPk