ISLAMABAD – The Pakistan Environment Trust (PET) has teamed up with the Canada Fund for Local Initiatives (CFLI) to introduce Pakistan’s first Carbon Project Development Playbooks. This launch took place at a local hotel and marks a significant step forward in the country’s environmental efforts.
These playbooks act as a comprehensive guide for project developers. They focus on creating and managing Afforestation, Reforestation, and Restoration (ARR) projects, as well as clean cooking initiatives. The aim is to attract climate finance to support Pakistan’s voluntary carbon market (VCM).
Hasan Anwer, Executive Director of PET, spoke at the event about the importance of enhancing skills and providing clear guidelines in the carbon market. He said, “Pakistan has a lot of potential for nature-based solutions. These playbooks offer a practical approach to help develop high-quality carbon projects that can secure international climate funding.”
Khalida Bashir, Joint Secretary of the Ministry of Climate Change and Environmental Coordination (MOCC), stressed the need for a structured method to manage climate finance. She pointed out that Pakistan needs to integrate carbon markets into its climate strategies effectively. The playbooks are intended to ensure transparency and credibility in project development.
Leslie Scanlon, the Canadian High Commissioner to Pakistan, reaffirmed Canada’s support for these climate initiatives. She noted that the playbooks represent a crucial advancement in strengthening Pakistan’s carbon markets. By providing project developers with necessary knowledge and practices, these tools promote sustainable investments and long-term climate solutions.
The launch event gathered many key officials, including representatives from various forest departments across the provinces, showing a unified commitment to enhance environmental sustainability.
Looking ahead, the next steps will involve training government agencies, private sector participants, and local developers to apply the methodologies laid out in the playbooks. PET plans to expand its initiatives by creating additional playbooks for areas like Blue Carbon, Regenerative Agriculture, and Industrial Carbon Solutions.
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