Paradigm Shift is an official staff account.
The Khyber Pakhtunkhwa (KP) government created a plan to market its carbon credits through the World Bank in recognition of producing clean solar and hydel power without harming the environment. A country or organization can trade carbon credits with other businesses that have a bigger carbon footprint.
A carbon credit is a permit that allows a country or organization to produce a certain amount of carbon emissions. In this regard, the energy and power department has sent a letter to the office of the KP chief secretary asking him to give it permission to approach the World Bank for the provision of technical assistance and facilities for certification and marketing of the province’s carbon credits. This will allow the department to claim its fair share by effectively marketing these assets owned by the provincial government.
According to the note prepared for claiming carbon credits through World Bank, the KP government has a legitimate claim to its share of the market through the Pakhtunkhwa Energy Development Organization (PEDO), which has been producing clean energy for almost three decades. PEDO currently generates 16,054.67KW per day from various solar projects, 28,884KW per day from community-owned micro hydropower plants, and 161.8MW per day from hydropower projects (HPP) for the national grid.
For the purpose of calculating tonnes (t) of carbon dioxide (CO2) equivalent (e), or tCO2e, the energy department has already shared the data on power generation with the climate change and environment department. In this regard, PEDO has been contacted by Pakistan Environment Trust (PET), an Islamabad-based nonprofit organization, to market its carbon credits via World Bank. According to PET’s estimation, these projects could bring in US$60 million per year for KP, the note states.
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