ADB to help Pakistan develop carbon credit, climate finance strategy

ISLAMABAD: Pakistan and the Asian Development Bank (ADB) have decided to work together on a new strategy aimed at boosting the country’s role in global carbon markets and encouraging climate-friendly innovation. 

The decision was made during a meeting in Islamabad between Federal Minister for Climate Change and Environmental Coordination, Dr Musadik Malik, and a visiting ADB delegation led by Toru Kubo, the bank’s Senior Director for Climate Change and Sustainable Development. 

According to the Ministry of Climate Change, the talks focused on building a clear and practical roadmap to help Pakistan benefit from international carbon finance, attract investment in low-emission technologies, and support climate-smart development. 

“Both sides agreed to develop a joint plan that focuses on generating carbon credits, encouraging innovation, and ensuring climate projects are designed with measurable results in mind,” the ministry said in a statement. 

According to Business Recorder, Dr Malik assured the ADB team that his ministry would stay fully involved in shaping the new strategy and said it must be transparent, results-driven, and aimed at delivering real impact. He noted that Pakistan is serious about turning climate action into economic opportunity, not just environmental obligation. 

Toru Kubo welcomed the commitment, adding that ADB is already helping countries like Pakistan get ready for carbon markets, invest in clean technologies, and access climate funding. 

He said the bank’s goal is to make sure developing countries can fully participate in global efforts to tackle climate change and benefit from them economically. 

The two sides also explored how Pakistan could align its carbon finance plans with the Sustainable Development Goals (SDGs), to show the world that environmental action can also support economic stability and social progress. 

The meeting follows ADB’s recent $500 million support package for Pakistan’s climate programme, which is part of a broader effort to help countries adapt to climate risks while staying on the path of sustainable growth. 

As international interest in carbon markets grows, officials believe Pakistan has the potential to take a leading role in the region by moving quickly and strategically in this space. 

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