Committee Formed to Review Carbon Market Policy Rules

The Ministry of Climate Change and Environmental Coordination has constituted a high-profile committee of experts to review the draft rules for trading in carbon markets.   The 24-member committee, headed by Joint Secretary (Climate Finance), Ministry of Climate Change, includes key officials from federal ministries, provincial planning departments, financial institutions, and private sector experts. Joint Secretary, Trade Policy, Ministry of Commerce, and Jawad Rabbani, Deputy Chief (Environment and Climate Change), Ministry of Planning and Development, are among the core members.  The committee will analyze the proposed policy framework for carbon trading and suggest improvements before finalization. It includes representatives from the Ministry of Finance and Planning and Development Departments of Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashmir, and Gilgit-Baltistan. The inclusion of provincial stakeholders aims to ensure that the policy reflects regional concerns and development priorities.  The committee also features experts in climate finance and carbon markets. Sana Rasool, a carbon market specialist, and Shah Jahan Mirza, Managing Director of the Private Power and Infrastructure Board (PPIB), are key members. Other experts include Saadullah Ayaz, Member Mitigation, Climate Change Authority, and Hiz Jamali, Senior Climate Change Officer at the Asian Development Bank (ADB). Additionally, representatives from the World Bank, UNEP, and private sector organizations such as CEO Ahya, Salaal Hassan, and Principal Resources Future, Khurram Lalani, are also part of the committee.  The Ministry of Climate Change will finalize the policy rules after extensive consultations with all relevant stakeholders. Once finalized, the rules will be submitted to the Prime Minister for approval. The initiative is part of Pakistan’s broader strategy to establish a structured carbon trading system that can help reduce emissions and attract climate finance investments.