Pakistan Can Earn $4b By Selling Forest Carbon

20 November 2013

In a highly inspiring national consultative meeting held at FAO office Islamabad it was told that Pakistan can earn from $400m up to 4 billion per year by sale of carbon stored in forests every year.

Meeting that was headed by Qazi Azmat Isa, Chief Executive, Pakistan Poverty Alleviation Programme and attended by the highest level secretaries of the provinces, a consensus was finally reached on the Readiness Proposal document.

Also present on the occasion was David Doolan, FAO representative. A new mechanism that was introduced by FAO was approved. The new mechanism called REDD+ offers cash rewards to developing countries that save forests and then pays them for the carbon stored in wood. The REDD+ mechanism has standards and procedures to ensure forest safety.

Read more from The Nation here