ISLAMABAD: Pakistan and the Asian Development Bank (ADB) have agreed to develop a joint strategy on carbon markets and climate innovation, according to a statement released by the Ministry of Climate Change.
The agreement was reached during a meeting between Federal Minister for Climate Change and Environmental Coordination Musadik Malik and a delegation from ADB led by Toru Kubo, senior director of the bank’s Climate Change and Sustainable Development division.
The meeting focused on aligning Pakistan’s climate strategy with market-based finance mechanisms and international standards. Both sides agreed to create a comprehensive climate strategy centered on carbon credit mobilisation, innovation, and outcomes-based implementation.
Malik assured the ADB of full ministerial cooperation in the process. He said the strategy would be designed to remain results-oriented and transparent.
Kubo said the ADB would continue to assist developing member countries, including Pakistan, in mobilising investment in low-carbon technologies, building carbon finance readiness, and improving access to international carbon markets.
The two parties also discussed linking Pakistan’s Sustainable Development Goals (SDGs) with its carbon finance strategy to strengthen its economic position in the global climate finance landscape.
The ministry said Pakistan plans to position itself as a regional player in the growing carbon market.
