Pakistan signed its first bilateral carbon market agreement under the Paris Agreement with Norway, marking a step towards attracting climate finance, according to an official statement issued on Wednesday. The memorandum of understanding (MoU), signed under the Ministry of Climate Change and Environmental Coordination, will enable Pakistan to develop carbon credit projects and transfer emission […]
Carbon
Monetising the Carbon Footprints (Part II)
Apart from the fee structure, there is also a lengthy process for getting approval for a carbon project from the government. It will start with the issuance of a supporting letter from the provincial government, where the project is located, and a request for a Letter of Intent (LoI) from the National Designated Authority, i.e., […]
Carbon trading deal with Azerbaijan on cards
Federal Minister for Climate Change Senator Musadik Masood Malik held a meeting on Monday with Azerbaijan’s Ambassador to Pakistan Khazar Farhadov to explore cooperation in environmental conservation, climate resilience, and carbon trading, the Ministry of Climate Change stated. During the meeting, the federal minister proposed joint initiatives to capitalize on Pakistan’s untapped carbon market, while […]
Carbon tax best way to cut greenhouse gas emissions: IMF
At $70 per ton of carbon dioxide, a carbon tax would be the most efficient means of cutting greenhouse gas emissions, according to an International Monetary Fund report published Friday. But for the moment, carbon taxes remain unpopular, particularly in France, where plans to increase it to 55 euros (or $61.60) from 44.60 euros recently […]