ISLAMABAD:, (Parliament Times) : Recognizing that there is a pressing need to raise awareness and build capacity among stakeholders about carbon market mechanisms, especially in light of the discussions and
developments made during COP28, where Article 6 played a pivotal role, COMSATS Centre
for Climate and Sustainability organized an in-house training workshop on Carbon Credits
and Carbon Markets, held today at COMSATS Secretariat
The workshop agenda encompassed a comprehensive overview of Carbon Credits and
Carbon Market, Carbon Trading Mechanisms, Project Cycle and Key Players in the Carbon
Market. Participants gained insights into Core Carbon Principles and Project Integrity,
understanding their own carbon footprints, and theories applied in setting up National
Emissions Trading Systems. Additionally, discussions covered carbon trading prospects in
Pakistan, emerging carbon trading policy frameworks, and real-world case studies.
Ambassador Dr. Mohammad Nafees Zakaria, Executive Director of COMSATS, delivered
the opening remarks, emphasizing the significance of leveraging carbon markets for common
benefit. He highlighted COMSATS' role as an intergovernmental organization with a network
of 25 Centers of Excellence, poised to unlock the benefits of carbon credit and carbon
market. Dr. Zakaria stressed the importance of reducing all sources of GHG emissions close
to zero and encouraged participants to seek guidance from experts on the basics,
regulations, and issuance process of carbon credits.
Dr. Sohail Malik, Technical Team Leader at the Climate Resourcing Coordination Centre
(CRCC), shared insights on Carbon pricing instruments for achieving decarbonization
objectives, including emission trading systems, and provided an overview of international
practices. He delved into the evolution of carbon markets globally over the last two decades
and elucidated the Carbon Offset Project Certification Process.
The Senior Representative of Ministry of Climate Change and Environmental Coordination
(MoCC&EC), Government of Pakistan, presented a case study on project registration with
carbon standards Verra. He provided detailed insights on Delta Blue Carbon, outlining the
preparation document required for Carbon credit and offset projects. The representative of
Ministry of Climate described the potential integration of carbon credit and offsets toward
Pakistan’s Nationally Determined Contributions (NDCs) and also highlighted the efforts of
Government of Pakistan in reducing major emissions. Moreover, he offered an overview of
emerging global Carbon markets and the impact of their price variation on decision-making
processes.
Ms. Minha Hanif, Climate Change Analyst at Resources Future, provided participants with
insights into the project cycle of carbon credits, the Core Carbon Principles including
governance and sustainable development, and the concept of project baseline, boundaries,
and leakages. She engaged in an interactive discussion with participants, posing questions
about some case projects to enhance their understanding of the types of projects that
generate carbon credits.
