ABHI Becomes First Customer for Voluntary Carbon Compensation Program by Shell Pakistan
Shell Pakistan Limited signed ABHI, Pakistan’s first financial wellness platform, as its first official customer for the launch of its new voluntary carbon compensation program. This program provides an avenue for all ABHI employees who are using Shell Fuel Cards to offset hard-to-abate carbon emissions from their fuel consumption by using Shell’s global portfolio of carbon credits. ABHI will be compensating for unavoidable carbon emissions generated from their sales fleet across Karachi, Lahore & Islamabad.
These credits are generated from carbon compensation projects, including both nature projects, such as conservation, afforestation, and so on, and projects from other methodologies, operating around the world. These projects help avoid or remove greenhouse gas emissions. The emission reductions are independently verified by internationally recognized standards, e.g. Verified Carbon Standard (VCS) and Climate, Community & Biodiversity Standards (CCB), and carbon credits are issued. Some of these projects further promote the safeguarding of wildlife and communities and support some of the United Nations Sustainable Development Goals.
Speaking at the ceremony, Managing Director and General Manager Mobility for Shell Pakistan, Mr. Waqar Siddiqui, stated that “Shell’s approach to emissions reduction follows, the ‘avoid-reduce-compensate’ mitigation hierarchy. We recommend this approach to our partners and customers across sectors to accelerate the transition to net zero emissions. The use of high-quality carbon credits is one of the viable ways to mitigate hard-to-abate emissions. We are pleased to support ABHI on their decarbonization journey.”
Omair Ansari, CEO, and Co-Founder at ABHI added “Shell is leading global initiatives to reduce carbon emissions and ABHI is proud to be a part of it. ABHI being a fast-growing fintech understands environmental responsibility and always looks forward to supporting climate-friendly initiatives. While we empower people financially, we believe in enabling social change along the way.”