Minster eyes up to $50m annually from mangrove carbon market, urges stronger conservation efforts

ISLAMABAD: Maritime Affairs Minister Junaid Anwar Chaudhry on Sunday said Pakistan could generate $20 million to $50 million annually through its mangrove carbon market, calling for coordinated national efforts to protect and restore the country's vital coastal ecosystems as they play an increasingly important role in climate resilience, biodiversity conservation and sustainable economic growth.

Mangrove forests play a critical role in combating climate change, preserving biodiversity and protecting coastal communities from erosion and natural disasters, according to environmental experts.

In a statement issued on the occasion of World Mangrove Day on July 26, Chaudhry said Pakistan is home to the world's seventh-largest arid-climate mangrove forest, concentrated mainly in the Indus Delta in Sindh, with smaller mangrove belts located along the coast of Balochistan.

A mangrove carbon market allows the carbon dioxide absorbed and stored by mangrove forests to be converted into carbon credits that can be traded with companies or organizations seeking to offset their greenhouse gas emissions.

According to the Press Information Department (PID), the minister estimated that Pakistan's mangrove carbon market could generate $20-50 million annually, depending on carbon credit prices and trading volumes.

The World Wide Fund for Nature-Pakistan (WWF-Pakistan), in a report issued in July 2024, identified several locations along the Karachi coast where significant stretches of mangrove forests had been cleared over the years for housing schemes as well as commercial and industrial development.

The report warned that without timely preventive measures, the country's remaining mangrove ecosystems could face further destruction.

Chaudhry described mangroves as a "natural shield" against shoreline erosion, flooding and storm surges, saying they play a vital role in protecting coastal communities, ports and marine biodiversity.

He cautioned that the degradation of these ecosystems posed a serious threat to food security and the livelihoods of fishing communities, as mangroves provide essential breeding and nursery habitats for fish, shrimp, crabs and other marine species that sustain fisheries and the country's emerging aquaculture sector.

The maritime affairs minister said Balochistan's estimated 4,058 hectares of mangroves could also contribute significantly to Pakistan's carbon market initiatives, noting that mangrove forests are capable of sequestering around four times more carbon than terrestrial forests.

According to the PID, "The minister called for greater public awareness, stricter enforcement against encroachment and increased public-private investment in blue economy initiatives, urging stakeholders to turn commitments into action as Pakistan marks World Mangrove Day."

Environmental experts in Pakistan have repeatedly urged the government to adopt stronger measures to curb deforestation and protect fragile ecosystems in view of the devastating climate-related disasters the country has experienced in recent years.