LAHORE Christiana Figueres, the Executive Secretary of the United Nations Framework Convention on Climate Change, visited Pakistan this week to ascertain the role of Pakistan stakeholders in the projects related with Climate Change in the context of Conference of Parties, held in December 2010 in Cancun, Mexico to which Pakistan is a signatory. According to a press release issued on Monday, while presiding over a seminar on the topic of Pakistans vulnerability to climate change and response measures, Figueres appreciated the role of private sector waste management company, Waste Busters which has recently concluded its financial close of a Euros 10 million project to divert over 300,000 Mt of municipal solid waste from landfills and convert it into energy. The UNFCCC is supporting this project with confirmation of Certified Emission Reductions (CERs) earned in the very first Clean Development Mechanism project in the field of Waste to Energy in Pakistan. The project is being financed by an international consortium led by the renowned Saudi conglomerate, Xenel Industries, Baladarrie Group and Invisor Securities. The consortium plans to establish waste to energy plants in all major cities of Pakistan for long-term concession agreements with the cities of Pakistan including Lahore, Rawalpindi and Peshawer, which are already underway. Figueres said that Waste Busters had proved to be the market leader in Pakistan for the Carbon Credits scheme and had paved way for many other private sector entrepreneurs to follow suit in this sector. Christiana Figueres further said that company expected to earn over US$1 million per annum from the CERS generated in these projects over a span of 15 years.