Shell Pakistan signs ABHI as first customer for voluntary carbon compensation offer

KARACHI: 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 programme, a statement said.

This programme 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, it added.

ABHI will compensate for the unavoidable carbon emissions generated from their sales fleet across Karachi, Lahore and 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 the internationally recognised standards, e.g., Verified Carbon Standard (VCS) and Climate, Community and 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, Shell Pakistan Mobility Managing Director and General Manager Waqar Siddiqui, said: “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 decarbonisation journey.”

Omair Ansari, chief executive officer and co-founder of ABHI said: “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 the environmental responsibility and always looks forward to support climate-friendly initiatives. While we empower people financially, we believe in enabling social change along the way.”