Pakistan, ADB push for climate strategy tied to carbon markets

Minister of State for Petroleum Dr Musadik Malik addressing a press conference in Islamabad on December 5, 2022. PHOTO: PID
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Federal Minister for Climate Change and Environmental Coordination, Dr Musadik Malik, met with an Asian Development Bank (ADB) delegation led by Toru Kubo, Senior Director for Climate Change and Sustainable Development (CCSD), to explore collaboration in carbon markets and shape a new climate strategy.
According to a press release issued Thursday, both sides agreed to formulate a comprehensive, impact-driven strategy with a focus on carbon credit mobilisation, climate innovation, and outcomes-based project implementation.
Malik assured ADB of full ministerial cooperation and active engagement in the strategy's development.
Kubo reaffirmed ADB's support, highlighting the Bank's efforts to help Developing Member Countries invest in low-carbon technologies, boost carbon finance readiness, and access international carbon markets.

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