US EditionCarbon Trading Deal with Norway Inked
The pact opens access to international carbon markets and could channel climate finance into clean energy, agriculture and other low-carbon sectors.
- On Wednesday, Pakistan and Norway signed their first bilateral carbon market agreement under Article 6.2 of the Paris Agreement in Islamabad, formally opening access to international carbon markets and climate finance.
- Under the Paris Agreement signed in 2015, nations committed to reducing emissions and strengthening climate pledges; Pakistan's federal cabinet approved national policy guidelines for carbon trading in January 2025.
- Ambassador Per Albert Ilsaas invited Pakistan to present project pipelines, noting Norway's Global Emission Reduction Initiative has a $1.5 billion budget and aims to buy 15 million carbon credits by 2030.
- Minister for Climate Change and Environmental Coordination Musadik Malik termed the pact a "historic milestone," stating the agreement allows Pakistan to develop projects and sell emission reductions to Norway.
- Norway seeks to achieve climate neutrality beyond formal 2030 targets by purchasing ITMOs, while Ambassador Ilsaas emphasized the partnership aims for sector-wide cooperation where climate policies generate emission reductions at scale.
12 Articles
12 Articles
Carbon trading deal with Norway inked
Pakistan and Norway on Wednesday signed the country's first bilateral agreement under Article 6.2 of the Paris Agreement, formally opening access to international carbon markets, climate finance and investment in low-carbon sectors. According to a statement issued on Wednesday, the memorandum of understanding, signed in Islamabad under the Ministry of Climate Change and Environmental Coordination, marks Pakistan's entry into carbon trading mecha…
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Islamabad inks 'historic' carbon market deal with Oslo under Paris Agreement
Envoy terms deal new phase in environmental cooperation.Norway interested in cooperation across sectors: envoy.Deal marks shift to carbon market implementation: minister.Pakistan signed its first bilateral carbon market agreement under...
‘Historic milestone’: Pakistan, Norway sign carbon market deal under Paris Agreement
Pakistan and Norway on Wednesday signed the former’s first-ever carbon market deal under the Paris Agreement, according to an official press release. According to the press release, “Pakistan and Norway on Wednesday signed the country’s first landmark bilateral agreement under Article 6.2 of the Paris Agreement, opening the door to international carbon trading, climate finance and major investment in clean energy and climate-smart agriculture.” …
Pakistan, Norway seal first-ever carbon market deal
ISLAMABAD: In a first, Pakistan has signed with Norway a bilateral agreement that allows Pakistan to enter into carbon trading with other countries. The said agreement has been signed under Article 6.2 of the Paris Agreement that enables the countries to bilaterally trade emissions reductions. “This agreement would strengthen Pakistan’s position in international carbon markets and create new opportunities for the country’s emerging green economy…
Islamabad inks carbon market deal with Oslo
Paris Agreement Govt working to establish systems required to operationalise carbon trading market: climate minister islamabad Pakistan signed its first bilateral carbon market agreement under the Paris Agreement with Norway, marking a step towards attracting climate finance, according to an official statement issued on Wednesday. The memorandum of understanding (MoU), signed under the Ministry of Climate Change and Environmental Coordination, w…
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