Pakistan is taking significant steps to enhance its involvement in global carbon markets through a partnership with the United Nations Environment Programme (UNEP). Federal Minister for Climate Change and Environmental Coordination, Dr Musadik Malik, met here on Tuesday with a delegation from SPAR6C (Supporting Preparedness for Article 6 Cooperation), a UNEP-managed project, to discuss bolstering the nation’s readiness for carbon trading under the Paris Agreement.

SPAR6C, a global endeavor spanning from 2022 to 2027, assists nations like Pakistan, Colombia, Thailand, and Zambia in preparing for effective engagement in these markets. Discussions centered on improving Pakistan’s preparedness for Article 6 collaboration and leveraging a student sponsorship program within SPAR6C.

This educational initiative supports Pakistani students pursuing carbon market research and training. The meeting explored integrating their expertise into national carbon schemes. The delegation also examined existing and future carbon trading prospects in Pakistan, including potential projects currently being evaluated.

Dr Malik reiterated Pakistan’s dedication to establishing a transparent, inclusive, and effectively regulated carbon market. He emphasized the significance of fostering robust collaborations, both with international development programs like SPAR6C and the local private sector, to enhance climate resilience and advance sustainable economic expansion. This joint effort is anticipated to be crucial in enabling Pakistan to actively participate in global carbon markets and fulfill its climate objectives under the Paris Agreement.