ISLAMABAD: Pakistan has signed its first bilateral carbon market agreement with Norway under the Paris Agreement.
The deal was signed on Wednesday in Islamabad, marking a major step for Pakistan in climate diplomacy and opening the door to international carbon trading and climate finance.
Moreover, the agreement falls under Article 6.2 of the Paris Agreement. It will allow Pakistan to develop carbon credit projects in sectors such as clean energy, agriculture, transport, and waste management.
Historic Milestone for Pakistan
Minister for Climate Change Musadik Malik called the agreement a “historic milestone.” He said it moves Pakistan from planning to actual implementation of carbon trading.
“Carbon markets must help countries like Pakistan finance their transition, create jobs, attract technology, and deliver real benefits to local communities,” the minister said.
Norway’s Perspective
Norway’s Ambassador to Pakistan, Per Albert Ilsaas, described the agreement as the beginning of a new era in bilateral environmental cooperation.
“Pakistan is among the countries most affected by climate change,” he said. “We believe this partnership can deliver both measurable emission reductions and real development benefits.”
