Islamabad: The Federal Ministry of Climate Change on Tuesday (January 11) announced it will release Nature Performance Bonds to raise funds for the budgetary support, news sources reported. In this regard, the ministry has developed tangible performance indicators including restoring wetlands, protecting forests, and reducing threats to wildlife and plant species.
According to reports, the proceeds of the bonds will be utilised for the normal budget and development activities. It was revealed that the government came up with the idea of green bonds based on environmental indicators during the World Environment Day in June last year and signed a declaration with three sovereign creditors – Canada, Germany, and the United Kingdom – to start a dialogue with the goal of issuing a Nature Performance Bond. The bonds will also leverage the government’s flagship environment effort of the Ten Billion Tree Tsunami Programme, Clean Green Pakistan, Protected Areas Initiatives, and ecological restoration in newly-declared national parks.
It is crucial to note that this is the second of its like proposal, as the government already issued ten-year Indus Green Bonds worth USD 500 million in May of last year to generate cash for green energy projects such as dam building.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
