Pakistan Says Working on ‘Comprehensive Policy Framework’ to Form Its First Carbon Market

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  • 30 Nov 2023
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Pakistan Says Working on ‘Comprehensive Policy Framework’ to Form Its First Carbon Market

Pakistan is developing its first carbon credits market with a comprehensive policy framework, aiming to reduce greenhouse gas emissions by 15% with its own resources and 35% with international grants by 2030. The country's Climate Change Council is working on guidelines for trading in carbon markets, with a focus on both compliance and voluntary markets. The comprehensive policy framework is being created in collaboration with relevant government agencies, NGOs, and civil society, with a committee of experts overseeing the process. Carbon offset credits play a key role in global efforts to mitigate climate change, with carbon pricing instruments covering over 20% of global greenhouse gas emissions.

Source: Arabnews