Latest news with #MusadikMalik
Express Tribune
3 days ago
- Business
- Express Tribune
Pakistan, ADB push for climate strategy tied to carbon markets
Minister of State for Petroleum Dr Musadik Malik addressing a press conference in Islamabad on December 5, 2022. PHOTO: PID Listen to article Federal Minister for Climate Change and Environmental Coordination, Dr Musadik Malik, met with an Asian Development Bank (ADB) delegation led by Toru Kubo, Senior Director for Climate Change and Sustainable Development (CCSD), to explore collaboration in carbon markets and shape a new climate strategy. According to a press release issued Thursday, both sides agreed to formulate a comprehensive, impact-driven strategy with a focus on carbon credit mobilisation, climate innovation, and outcomes-based project implementation. Malik assured ADB of full ministerial cooperation and active engagement in the strategy's development. Kubo reaffirmed ADB's support, highlighting the Bank's efforts to help Developing Member Countries invest in low-carbon technologies, boost carbon finance readiness, and access international carbon markets.
Arab News
3 days ago
- Business
- Arab News
Pakistan eyes carbon market partnership with ADB to advance climate goals
ISLAMABAD: Pakistan's Climate Change Minister Dr. Musadik Malik on Thursday met with a high-level Asian Development Bank (ADB) delegation to explore potential collaboration on carbon markets as part of the country's evolving climate strategy, said in an official statement. The visiting team was led by Toru Kubo, ADB's Senior Director for Climate Change and Sustainable Development. The discussions focused on leveraging carbon markets to reduce greenhouse gas emissions and attract new streams of climate finance for sustainable development. Carbon markets are trading systems that allow countries, companies or organizations to buy and sell carbon credits or permits representing the right to emit a specific amount of carbon dioxide. These markets create financial incentives for reducing emissions and investing in greener alternatives. 'Both sides agreed to formulate a comprehensive, mutually aligned climate change strategy, with a specific focus on carbon credit mobilization, climate innovation and outcomes-based project implementation,' the climate change ministry said in a statement. The two sides also explored ways for Pakistan to strategically align its carbon finance agenda with the Sustainable Development Goals, aiming to turn climate action into a driver of economic growth, it added. On the occasion, Malik assured the ADB of full support in the strategy formulation, emphasizing that it should remain 'impact-driven, transparent and results-oriented.' Kubo highlighted ADB's support for developing member countries, including Pakistan, by enhancing their carbon finance capabilities through mobilizing investments in low-carbon technologies, enabling them to access and benefit from global carbon markets. The ministry said the meeting showed that climate action is now seen as a way to boost the economy, not just an environmental measure, with more countries paying attention to carbon markets. Pakistan unveiled the country's first National Carbon Market Policy in November 2024, saying that the government wanted to attract investments in green initiatives and transition toward a low-carbon economy. According to the Global Climate Risk Index, Pakistan is ranked as the fifth most vulnerable country to climate change. In 2022, devastating floods claimed about 1,700 lives and affected more than 33 million people, causing economic losses exceeding $30 billion. Although international donors pledged over $9 billion to support Pakistan's flood recovery, officials report that only a small portion of the promised funds were received by the country.
Business Recorder
3 days ago
- Business
- Business Recorder
Pakistan, ADB eye carbon markets as next frontier for green growth
Authorities in Islamabad and the Asian Development Bank (ADB) have agreed to chart a collaborative strategy on carbon markets and climate innovation. The development came during a meeting between Federal Minister for Climate Change and Environmental Coordination, Dr Musadik Malik, with a high-level delegation of the ADB, led by Toru Kubo, Senior Director of Climate Change and Sustainable Development (CCSD), to explore collaborative opportunities in carbon markets and forge the path for a new climate strategy grounded in economic and environmental synergy. According to a statement released by the Ministry of Climate Change, the meeting marked a significant step forward in aligning Pakistan's national climate strategy with international best practices and market-driven climate finance solutions. Pakistan receives $500 million from ADB for climate programme 'Both sides agreed to formulate a comprehensive, mutually aligned climate change strategy, with a specific focus on carbon credit mobilisation, climate innovation, and outcomes-based project implementation,' read the statement. During the meeting, Malik assured ADB of full ministerial cooperation and hands-on involvement in the formulation of the strategy, emphasising that it must remain impact-driven, transparent, and results-oriented. Toru Kubo reiterated ADB's strong support, noting that the bank continues to assist its Developing Member Countries (DMCs) by catalysing investments in low-carbon technologies, advancing carbon finance readiness, and enhancing the ability of countries like Pakistan to access and benefit from global carbon markets. The two sides also discussed how Pakistan can strategically link Sustainable Development Goals (SDGs) to its carbon finance agenda, thereby transforming climate action into a source of economic strength and international credibility. 'As global interest in carbon markets surges, Pakistan is poised to become a regional pioneer by strategically positioning itself in this evolving financial ecosystem,' read the statement.
The Print
18-05-2025
- Politics
- The Print
Pakistan to dispatch its own diplomatic delegation after India announces global outreach post Op Sindoor
The Pakistani delegation will be led by Pakistan People's Party (PPP) Chairman Bilawal Bhutto Zardari and will include several high-profile political and diplomatic figures, such as Dr. Musadik Malik, Engineer Khurram Dastgir Khan, Senator Sherry Rehman, Hina Rabbani Khar, Faisal Subzwari, Tehmina Janjua, and Jalil Abbas Jilani. The announcement comes hours after India Saturday announced a comprehensive plan to send seven multi-party parliamentary delegations abroad to present its position on the recent escalation with Pakistan. New Delhi : In what appears to be a direct diplomatic response to India's plans of global outreach post Operation Sindoor, Pakistan too has announced a dispatch of a political delegation to major Western capitals, including London, Washington, Paris, and Brussels. Musadik Malik is the federal minister for climate change and environmental coordination, Dastgir is former minister of foreign affairs of Pakistan, Rehman is a Pakistani politician and journalist, Khar is former minister of state for foreign affairs, Subzwari is a Pakistani politician and a senior leader of the Muttahida Qaumi Movement – Pakistan (MQM-P), Janjua is former foreign secretary, and Jilani is former caretaker minister for foreign affairs. The mission aims to present Pakistan's narrative on the recent conflict and counter what Islamabad calls, 'Indian propaganda' about cross-border terrorism. Prime Minister Shehbaz Sharif, who announced the initiative, framed it as a necessary diplomatic push 'to expose India's conspiracies and efforts to destabilise regional peace.' Post Operation Sindoor, which led to armed hostilities along the LoC, both countries mutually agreed to a ceasefire on 10 May, and halted direct military exchanges. Also read: Excluded by Congress, Shashi Tharoor says 'honoured' by govt's invitation to join all-party delegation India's delegations Earlier Saturday, India unveiled a plan to dispatch seven bipartisan delegations of Members of Parliament to foreign capitals, including the US, UK, and Gulf nations. Each team, comprising lawmakers from across the political spectrum, is tasked with articulating India's stance on cross-border terrorism and its demands for global accountability. Among those leading the Indian outreach are high-profile figures such as Congress MP Shashi Tharoor, BJP's Ravi Shankar Prasad, and NCP's Supriya Sule. Minister of Parliamentary Affairs Kiren Rijiju emphasised the unity behind the initiative, stating, 'In moments that matter most, Bharat stands united.' Pakistan's announcement came hours after India's. 'The prime minister has decided to send a diplomatic delegation to counter Indian propaganda and highlight its alleged conspiracies on the global stage,' the Prime Minister's Office said in a statement, adding that Prime Minister Sharif had reached out to Bhutto-Zardari to lead the effort. The statement added that the delegation would present Pakistan's position and challenge India's narrative in key capitals, including London, Washington, Paris, and Brussels. Bilawal acknowledged the assignment on social media, writing on X: 'I am honored to accept this responsibility and remain committed to serving Pakistan in these challenging times.' However, his participation is not without controversy. He had drawn sharp criticism for a fiery speech delivered in the wake of India's suspension of the Indus Waters Treaty, in which he declared, 'Whether water flows in this Indus or their blood.' He later backtracked, saying Pakistan remained open to peace with India—a reversal that raised more doubts about the clarity and consistency of Islamabad's diplomatic strategy. Speaking at a ceremony marking the 'Day of Gratitude', an event held to recognise Pakistan's apparent military response to Indian attacks in Islamabad Friday, Pakistan PM Shehbaz Sharif noted that despite multiple wars between India and Pakistan, these conflicts have yet to resolve their longstanding issues. He then called on India to engage in dialogue to address shared concerns and work toward peaceful coexistence. 'Whether we like it or not, we are there forever as neighbours. It's up to us whether we want to be unruly neighbours or peaceful ones. We have fought three wars that solved nothing. Rather, they brought more poverty, unemployment, and other problems on both sides. So, the lesson is that we have to sit down at the table like peaceful neighbours and settle our outstanding issues, including Jammu and Kashmir,' he said. (Edited by Zinnia Ray Chaudhuri) Also read: 'Should've sought concurrence'—Congress miffed by Tharoor accepting govt invite for all-party delegations
Express Tribune
13-05-2025
- Politics
- Express Tribune
Pakistan invited to Nepal climate forum
Pakistan and Nepal reaffirmed their commitment to regional climate cooperation during a meeting between Federal Minister for Climate Change and Environmental Coordination Dr Musadik Malik and Nepalese Ambassador Rita Dhital on Tuesday. The meeting focused on regional peace and environmental collaboration, with the visiting ambassador extending an invitation to Dr Malik to attend Nepal's inaugural regional Climate Dialogue Forum. The event, which will bring together climate ministers from across South Asia and beyond, aims to conclude with a non-binding declaration on climate action.
