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