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IMF technical team in Pakistan

A four-member International Monetary Fund (IMF) technical delegation reached here on Monday for talks on climate financing. According to sources, negotiations are scheduled between the IMF delegation and federal and provincial officials from today till February 28 “on green budgeting, climate spending tagging, tracking, and reporting.” Sources stated that a proposal to impose a carbon levy in the budget for the fiscal year 2025-26 is under consideration. A preliminary draft will be discussed during negotiations and the IMF will give suggestions on the levy, they added. There will also be discussion on electric vehicles and subsidies, the sources said and

PM Shehbaz vows to combat climate change in collaboration with int’l community

Prime Minister Muhammad Shehbaz Sharif has reaffirmed Pakistan’s strong commitment to advancing the objective of combating climate change in close collaboration with international community and the United Nations. He was talking to the UN Resident Coordinator in Pakistan Mohamed Yahya, who paid a courtesy call on him in Islamabad. During the meeting, the Prime Minister appreciated the important work being carried out by the UN Country Team in Pakistan, emphasizing the need to further strengthen the collaboration in the areas of sustainable development and climate change. He said climate financing remained a crucial component of addressing the impacts of climate

COP29 achieves full operationalisation of Article 6 of Paris Agreement – Unlocks International Carbon Markets

November: Today, the COP29 Presidency announced the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement. This was one of the Presidency’s top priorities for the year and it drove Parties towards this milestone achievement through intensive dual-track technical and political negotiations. This strategy broke through years of stalemate and finalises the last outstanding item in the Paris Agreement. Article 6 provides trusted and transparent carbon markets for countries as they collaborate to reach their climate goals. This cross-border cooperation is expected to reduce the cost of

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