Pakistan making efforts to benefit from UN’s carbon trading system – PM’s climate aide Romina Khurshid

Islamabad: July 1, 2024: A 3-member delegation of the United Nations Environment Programme’s Denmark Mission, led by Senior Economist called on Coordinator to Prime Minister on Climate Change Romina Khurshid Aalm in the Ministry of Climate Change & Environmental Coordination.

During the meeting Advisor Carbon Credit Markets Urwah Khan at the United Nations Environment Programme briefed the PM’s climate advisor Romina Khurshid Alam about carbon market-related initiatives for their potential benefits economic Pakistan can gain by selling its carbon credits from different sectors including cement, oil & gas, textile and other industrial industries.

He also assured the PM’s climate aide of his organisation’s fullest technical and non-technical support to build up policy infrastructure and its implementation for creating enabling environment for various potential sectors including cement, waste, textile, oil & gas, telecom and information technology sectors to generate and sell their carbon credits in the international carbon credit markets.

Both sides agreed to work together to enable Pakistan’s various industrial sectors to sell their carbon credits in the international carbon trading markets and earn financial benefits.

“We are very much aware of the huge untapped economic potential the carbon markets offer for Pakistan to generate carbon credits in the international carbon market and earn economic gains by selling the carbon credits,” the PM’s climate aide emphasized during the meeting.

Carbon markets are international trading systems in which carbon credits are sold and bought to compensate for their greenhouse gas emissions by purchasing carbon credits from entities that remove or reduce greenhouse gas emissions.