ISLAMABAD, Jan 22: Minister for Environment Hameed Ullah Jan Afridi on Thursday said Carbon Financing through development of Clean Development Mechanism (CDM) would help boost efforts towards mitigating the effects of climate change, said.

“Carbon Financing will not only help to bring foreign investment and environment friendly technology in the country but also reduce the energy crisis in Pakistan,” the minister stated as he announced the launch of a workshop on Clean Development Mechanism at Islamabad Club on Thursday.

The Minister for Environment said that government was aware of the negative consequences of climate change on the economy and environment and was taking comprehensive measures to minimize the threats imposed by it.

The Minister said that the country was endeavouring at policy and implementation levels to reduce the green house effects and developing mitigating options to reduce threats of climate change.

He said that by complying with the Kyoto Protocol in 2005, Pakistan had shown its commitment to play an effective role in global efforts. This commitment was reiterated at the 14th Session of Climate Change Convention in Poznan to further work on Bali Road Map in this regard.

The Minister said that a high level National Committee on Climate Change headed by Prime Minister Yousuf Raza Gilani had been formed to review policy and monitor climate change initiatives in the country.

An autonomous study centre was engaged in research on impacts and adaptation to climate change in the country, he said adding, that a CDM Cell had been established as a part of Designated National Authority (DNA) for approving and facilitating CDM Projects in line with National Sustainable Goals.

In an optimistic tone the Minister expressed the hope that the new projects for capacity building, development and implementation of carbon financing projects in Pakistan would help explore the CDM potential of different areas including waste energy, waste management, industries, forestry and agriculture.

Speaking on the occasion Secretary Ministry of Environment, Khushnood Akhtar Lashari said that Ministry of Environment had granted approval to 12 CDM projects and many other were in pipeline at various stages of development in industrial processes, energy efficiency, alternative energy, waste management and forestry sectors.