Islamabad, February 26, 2025 – In its commitment to advancing financial inclusion and sustainable economic growth, Karandaaz Pakistan hosted a webinar for the launch of it’s report titled “Carbon Credits Trading – Exploring Landscape and Regime in Pakistan.” The event convened key stakeholders from the public and private sectors to explore the challenges and opportunities of establishing a structured carbon trading framework in Pakistan.
The session commenced with welcome remarks from Mr. Waqas ul Hasan, CEO, Karandaaz, followed by the keynote address by Syed Salim Raza, Chairperson, Karandaaz Board of Directors.
Emphasizing the significance of carbon markets in achieving Pakistan’s climate goals and attracting green investments, Mr. Raza highlighted the crucial role of the private sector saying: “Fortunately, the private sector globally is already poised towards being committed to climate change… New and more efficient, cheaper technology has become not just an expectation but is actually happening. In many countries, the private sector is already working under a system requiring compliance with emission ceilings set for different sectors.”
Pakistan’s strengths in nature-based solutions (NbS), clean energy, and sustainable agriculture positions it well for global carbon credit transactions. However, challenges such as policy ambiguities, lack of local verification bodies, and limited technical capacity remain key hurdles.
Commenting on the potential of carbon markets, Mr. Waqas ul Hasan, CEO, Karandaaz, said, “Climate change is real, so is global commitment for sustainable development. Paris Agreement, and speaking more specifically, Article 6, are an articulation of this commitment. The world is a complex place and the carbon markets – informed by science, driven by global commitment for sustainable development, and at the same time resisted by protectionist forces and affected by the politics of north and south – are even more complex. We will have to develop ‘capacities’ to claim our fair share in this game.”
Speaking on the government’s approach to carbon markets, Ms. Aisha Humera Chaudhry, Secretary, Ministry of Climate Change, highlighted the need to first establish a functional market to fully leverage its potential. She stated, “The Ministry of Climate Change is of the view that first of all, we have to operationalize the carbon credits market and let the private sector get the benefits of these opportunities and raise climate finance…We are also in touch with some of the countries bilaterally who are interested in G2G arrangements and we are in the process of developing our national registry. We hope that by the end of year, we will be in the position to start making transactions.”
During the webinar, Ms. Maha Qasim from Zero Point Partners presented key findings from Karandaaz’s latest report, Carbon Credits Trading: Exploring Landscape and Regime in Pakistan. The report offers an in-depth analysis of Pakistan’s carbon market potential, the newly introduced policy framework, and opportunities for private sector participation. To read the full report, visit: https://www.karandaaz.com.pk/research/publications/carbon-credits-trading-exploring-landscape-and-regime-in-pakistan
The first panel, titled, ‘Operationalizing the Carbon Credits Market in Pakistan’ was moderated by Mr. Navid Goraya, Chief Investment Officer at Karandaaz with panelists including Mr. Zulfiqar Younas, Additional Secretary at Ministry of Climate Change, Mr. Hasaan Khawar, Team Lead at SEED Programme, Mr. Fatima Khalid, Climate Advisor at Foreign, Commonwealth and Development Office (FCDO), and Mr. Muhammad Ibrahim Khan, Director Forest at WWF.
Mr. Zulfiqar Younas, Additional Secretary, Ministry of Climate Change, talked about the recently launched climate policy stating: “We have launched the carbon market policy. We have prepared the first draft of rules under the policy, which is being reviewed by an expert committee. Carbon market is a virtual market where supplier companies can offer credits and buyer companies can buy credits. In such a market, the value of the credit largely depends on how the credit is developed and how communities benefit from it.”
The second panel, ‘Leveraging Carbon Markets for Scaling up Private Sector Investment in Pakistan’ was moderated by Ali Akbar Ghanghro, Senior Manager Research & Insights at Karandaaz, with panelists including William ten Zijthoff, Co-founder at Carbify, Mohammed Omer Ghaznavi, Co-founder at Davaam, Hugh Salway, Senior Director at Gold Standard, and Salima Hemani, Head of Sustainability at BASF.
For the closing remarks Ms. Jo Moir, Development Director at FCDO, highlighted the UK’s commitment to green growth in Pakistan and the crucial role of carbon markets in unlocking climate finance. She said, “Economic growth cannot be sustained unless we look at the growing threat of climate change. We need to work towards those interventions that can help adapt and build resilience to drought, floods, and extreme heat. The time to act is now on adaptation and resilience. The carbon markets can play a key role in helping to unlock the much-needed climate finance for that.”
Karandaaz remains committed to supporting Pakistan’s transition to a green economy through investment, research, and multi-stakeholder collaboration. The discussions held during the webinar mark a significant step toward unlocking the country’s potential in global carbon markets.
To watch the full recording of the webinar, visit Karandaaz’s YouTube channel: https://youtu.be/rrVvtRfqxHE