Pakistani province completes first forest carbon mapping, targets $4 billion in credit revenue
Carbon credits are permits that allow owners— governments or companies— to emit a certain amount of carbon dioxide or other greenhouse gases (GHGs). The United Nations allows polluting companies or countries to buy carbon credits to offset their emissions. These credits can be sold in international carbon markets.
Forest carbon credit mapping refers to the process of using satellite images, drones, and data to measure the forest land of a particular area. This estimates how much carbon the trees in that given area are absorbing. This data is then used to identify areas where projects can be launched to earn carbon credits.
A ceremony was held at the Chief Minister's House in Peshawar to mark the launch of KP's first Forest Carbon Credit Mapping Report, the chief minister's office said in a statement. The report was launched by Chief Minister Ali Amin Gandapur.
'Through this mapping, done with the help of modern technology, ten potential projects covering 2.2 million hectares of forest land in the province have been identified,' the statement said.
'These projects can absorb more than 400 million tons of carbon,' the statement added.
The report further said these projects can earn a revenue of $4 billion and create over 50,000 green jobs. Meanwhile, Gandapur said the mapping will serve as a 'comprehensive model' for the province's environmental, economic, and social development.
'The forest area of Khyber Pakhtunkhwa makes up 46 percent of the country's total forested area,' Gandapur was quoted as saying in the statement. 'The forests of the province have the capacity to absorb 50 percent of the country's carbon.'
The KP chief minister said the provincial government is expected to earn $100 million annually from carbon credits. He said the KP government is undertaking efforts to further increase the forest area of the province.
Pakistan is consistently ranked as one of the world's worst-affected countries due to climate change. Monsoon rains in the country since June 26 alone have killed around 190 people and injured several others.
Unusually heavy rains triggered flash floods in June 2022 that killed over 1,700 people and caused damages of over $33 billion, with large swathes of crops and critical infrastructure destroyed by raging currents.
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