“The famous balance of nature is the most extraordinary of all cybernetic systems. Left to itself, it is always self-regulated.”
Pakistan signed the Kyoto Protocol in 2005, allowing the country to develop CDM-compliant projects, generate CERs and earn critical investment through proceeds of the CERs. The Carbon Credits market is worth of billions of dollars and for a country like Pakistan, it provides an opportunity to generate additional resources for development projects.
FINCON Services Inc. through its Carbon Bank provides a platform to the public and private sector to secure technical assistance for development, registration, and marketing of CDM-compliant projects to ensure the best possible price per CER generated.
Under these flexible mechanisms the size of the market is increasing at a tremendous rate. Despite the prevailing recession, global market size increased to 37% in the 1st quarter of 2009 as compared to the 1st quarter of 2008. The Peoples Republic of China and India are the leading countries in the field of carbon finance. Pakistan is lagging behind, but has some projects in development. Recognizing the nature of the problem, FINCON Services Inc. is working at all levels and in many capacities to help Pakistan fill this gap.
FINCON Services Inc. provides policy support to the government and State Bank of Pakistan on the current international frameworks and country case studies for effectively channeling carbon finance to households. Hence, FINCON Services Inc. contributes towards carbon-constrained world, a world in which emissions of carbon dioxide and other greenhouse gases (GHGs) carry a price.
Lack of awareness is a key impediment to development of the carbon market in Pakistan. FINCON arranges workshops for important stakeholders to increase awareness and build their capacity to help make Pakistan a world leader in the carbon finance sector.
FINCON Services Inc. takes pride in establishing first ever carbon bank of Pakistan. The Carbon Bank is in the final stages of development and, once fully operational, will fulfill two primary objectives:
- Provide consultancy support to the clients in preparation of key documents
- Support in getting projects approved from the various entities