Pakistan, ADB to develop climate strategy, focused on carbon credits

May 29, 2025 (MLN): Pakistan and the Asian Development Bank (ADB) have agreed to formulate a comprehensive and mutually aligned climate change strategy, with a specific focus on carbon credit mobilization, climate innovation, and outcomes-based project implementation.

This was discussed during a meeting between the Federal Minister for Climate Change and Environmental Coordination, Dr. Musadik Malik, and a high-level ADB delegation led by Toru Kubo, Senior Director of Climate Change and Sustainable Development (CCSD).

The meeting aimed to explore collaborative opportunities in carbon markets and forge the path for a new climate strategy grounded in economic and environmental synergy, as per the press release issued today.

The meeting marked a significant step forward in aligning Pakistan’s national climate strategy with international best practices and market-driven climate finance solutions.

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 catalyzing investments in low-carbon technologies and advancing carbon finance readiness.

He also emphasized efforts to enhance the ability of countries like Pakistan to access and benefit from global carbon markets.

The two sides also discussed how Pakistan can strategically link Sustainable Development Goals (SDGs) to its carbon finance agenda, thereby transforming climate action into a source of economic strength and international credibility.

The meeting signals a growing recognition that climate adaptation and mitigation are not just environmental imperatives, but powerful economic levers.

As global interest in carbon markets surges, Pakistan is poised to become a regional pioneer by strategically positioning itself in this evolving financial ecosystem.

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