Pre-COP 23 All Stakeholder Consultative Dialogue (New Market Mechanisms)

Aug 10 2017 | 12:10:27
The Civil Society Coalition on Climate Change (CSCCC) in collaboration with the Ministry of Climate Change conducted a thematic consultation on New Market Mechanism and Cooperative Approaches under the Paris Agreement on 10 August 2017. The session was chaired by Senator Nisar Memon, and attended by government officials, representatives from civil society organizations, and experts. Speaking on the occasion, Mr. Irfan Tariq, DG Environment and Climate Change stressed on the need to have new and non-market systems for businesses such as carbon trading schemes and credit mechanisms in place to raise necessary resources for climate action. Dr. Ghulam Rasul, DG Meteorological Department, encouraged adopting emission reductions schemes such as carbon trading, which he said had already been implemented in many other developing countries. Participants during the consultation agreed that Pakistan should engage constructively on discussions related to the New Market Mechanism and Cooperative Approaches established under the agreement as these would help the country meet its mitigation targets put forth in the NDC, and could create a predictable revenue stream for climate change projects. Syed Abu Ahmed Akif, Federal Secretary on Climate Change, in his closing remarks highlighted the need to streamline systems and processes in Pakistan and the importance of the private sector playing a role in implementing market mechanisms for long-term climate mitigation activities.