Belem (TDI): Pakistan’s Punjab province has entered into a partnership with the Global Green Growth institute (GGGI) to design carbon-credit projects and expand the province’s access to international climate finance.
The understanding was reached during CM Maryam Nawaz’s meeting with GGGI Director, General Sang Hyup Kim, on the sidelines of the COP30 Climate summit in Brazil.
The GGGI was established in 2012 in Rio de Janeiro during the United Nations conference on sustainable development, partnering with developing nations to promote low carbon and climate resilient projects while linking them to global carbon-market instruments.
These markets function by allowing countries or organizations that reduce emissions through renewable energy projects to sell carbon credits to those struggling to meet their emission targets. These transactions help balance out global emissions as reductions in one region will benefit the whole planet.
The move comes at a critical time when Punjab is facing severe climate issues, including monsoon floods and recurring smog emergencies, which not only worsen the health but disrupts the daily flow of life across the province.
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Following the meeting, a statement by the Punjab administration said, “GGGI will help strengthen Pakistan’s capacity in global carbon markets and carbon financing and assist the country in gaining access to carbon markets worldwide.”
During the discussion, the chief minister emphasized that Punjab aims to advance projects related to clean air, reforestation, improved sanitation systems and electric mobility, describing them as essential components of the province’s climate resilience roadmap.
Sang Hyup Kim appreciated Punjab’s proactive approach, expressing hope that this partnership will strengthen Pakistani environmental governance and accelerate progress towards Sustainable development Goals.
Through this, Punjab wants to position itself as a regional leader in green innovation and environmental sustainability and seeks to turn climate challenges into opportunities.
There is hope that these efforts will help Punjab transition toward a low-carbon economy, mitigate the impact of climate disasters and pave the way for other provinces in Pakistan to pursue similar climate-resilient strategies.
Established in December 2008, The Diplomatic Insight is Pakistan’s premier diplomacy and foreign affairs magazine, available in both digital and print formats.
