Pakistan, ADB eye carbon markets as next frontier for green growth

Islamabad: Federal Minister for Climate Change and Environmental Coordination Dr Musadik Malik met with a high-level delegation of the Asian Development Bank (ADB)-led by Senior Director of Climate Change and Sustainable Development Toru Kubo to explore collaborative opportunities in carbon markets and forge the path for a new climate strategy grounded in economic and environmental synergy.

The meeting marked a significant step forward in aligning Pakistan’s national climate strategy with international best practices and market-driven climate finance solutions. Both sides agreed to formulate a comprehensive, mutually aligned climate change strategy, with a specific focus on carbon credit mobilisation, climate innovation, and outcomes-based project implementation.

Dr. Malik assured ADB of full ministerial cooperation and hands-on involvement in the formulation of the strategy, emphasizing that it must remain impact-driven, transparent, and results-oriented.

Toru Kubo reiterated ADB’s strong support, noting that the Bank continues to assist its Developing Member Countries (DMCs) by catalysing investments in low-carbon technologies, advancing carbon finance readiness, and enhancing the ability of countries like Pakistan to access and benefit from global carbon markets.