Lucky Cement qualifies for Carbon Credits
28th December 2012, Karachi Through its Waste Heat Recovery (WHR) Project, - a power generation unit that does not require any external fed fuel to operate and uses the wasted heat from the system as its fuel, Lucky Cement has managed to substantially reduce carbon emissions.
Due to this innovative and environment-friendly approach, the Company qualified for the Clean Development Mechanism (CDM) under the Kyoto Protocol of United Nations and earned itself precious Carbon Credits.
The estimated annual CO2 reduction by virtue of WHR plant at its Pezu Plant is 29,918 metric tons and by WHR at Karachi Plant is 50,000 metric tons.
Clean Development Mechanism (CDM) allows emission-reduction projects in developing countries to earn Certified Emission Reduction (CER) credits. These CERs or Carbon Credits can be traded and sold and are used by developing nations to finance their industrial projects. One allowance or CER is equivalent to one metric ton of CO2 emissions.
These allowances can be sold privately or in the international market at the prevailing market prices. These trade and settle internationally and hence allow those credits to be transferred between countries. Each international transfer is validated by the United Nations Framework Convention on Climate Change (UNFCCC).
Lucky Cement, pioneering innovation is thus preserving environment, curtailing its energy needs and saving cost in a unique way. Lucky Cement is also an ISO 14001:2004 certified company, which is a certification awarded to companies that meet all the international environmental standards and have environment friendly practices and processes.
Lucky Cement, Pakistan’s largest cement producer with production capacity of 7.75 million tons per annum is playing an active role in addressing to the issues of environmental degradation. The company has invested in many projects that are ecologically friendly and energy efficient.