ISLAMABAD: Pakistan is drafting a “comprehensive policy framework” for the formation of its first carbon credits market, the prime minister’s office said in a statement on Monday after Premier Anwaar-ul-Haq Kakar chaired a meeting of the national Climate Change Council.
Carbon markets are becoming an indispensable tool in the global climate fight, with carbon pricing instruments now covering over 20 percent of global greenhouse gas emissions, generating $53 billion in revenue at the end of 2021, according to the Carbon Pricing Leadership Coalition, a 17 percent increase in revenue from the previous year.
A carbon offset credit is a transferable instrument certified by independent entities or governments, and each credit represents a reduction of one metric ton of carbon dioxide, or an equivalent greenhouse gas.
The credits, to be effective, must represent an environmentally sound project that helps to mitigate climate change, such as preserving a forest that was slated to be cleared, or the building of a clean energy project to eliminate burning of a fossil fuel. After purchasing a credit, a company can “retire” it to claim a reduction in their own greenhouse gas reduction goals.
Setting up a carbon market is part of efforts by Pakistan, one of the country’s worst hit by climate change, to reduce 15 percent green house gasses with the country’s own resources and 35 percent with the support of international grants by 2030.
“Approval to form a committee of experts from the Pakistan Climate Change Council under the Ministry of Climate Change of the Prime Minister,” the PMO said.
“The committee will work to create a comprehensive policy framework for the formation and trading of carbon credits market in Pakistan and to make it more efficient and effective.”
The meeting of the Climate Change Council, according to the PMO, also discussed policy guidelines for trade in carbon markets in Pakistan.
“The meeting was told that a comprehensive policy framework is being made in consultation with all relevant government agencies, NGOs and civil society, which will be implemented soon,” the statement added. “Under this, a strategy is being formed under the supervision of experts in this field to make trading of carbon credits in the carbon markets in Pakistan easy and useful for the country.”
There are broadly two types of carbon markets: compliance and voluntary, according to UNDP.
Compliance markets are created as a result of any national, regional and/or international policy or regulatory requirement. Voluntary carbon markets – national and international – refer to the issuance, buying and selling of carbon credits, on a voluntary basis.
The current supply of voluntary carbon credits comes mostly from private entities that develop carbon projects, or governments that develop programs certified by carbon standards that generate emission reductions and/or removals.
Demand comes from private individuals that want to compensate for their carbon footprints, corporations with corporate sustainability targets, and other actors aiming to trade credits at a higher price to make a profit.
Pakistan says working on ‘comprehensive policy framework’ to form its first carbon market
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Pakistan says working on ‘comprehensive policy framework’ to form its first carbon market
- In a nutshell, carbon markets are trading systems in which carbon credits are sold and bought
- One tradable credit equals one ton of greenhouse gas reduced, sequestered or avoided
Pakistan and Indonesia conclude week-long, joint military exercise to counter militancy
- Pakistan routinely holds joint air, ground and sea exercises with friendly nations
- These military exercises help foster interoperability and joint deployment concepts
ISLAMABAD: Pakistan and Indonesia have concluded a week-long, joint military exercise, Elang Strike-II, to counter militancy, the Pakistani military said on Monday.
This was the second exercise between the two countries in the counter-terrorism domain, according to the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing.
It began on September 8 and continued for a week at the National Counter Terrorism Center (NCTC) in Pabbi town of Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province.
“The exercise was aimed at mutually beneficial sharing of experience and training methodology between the two armies which have strong brotherly relations,” the ISPR said in a statement.
Senior officials of Pakistan Army and Col. Budi Wirman, defense attaché of Indonesia, attended the closing ceremony.
Pakistan routinely holds joint air, ground and sea exercises with friendly nations. These drills help foster interoperability and joint deployment concepts to counter threats to regional and global peace.
The South Asian country, which has fought back militancy for decades, also hosts cadets from these brotherly nations each year to undergo specialized military training.
Pakistani man to appear in US court on assassination plot charges
- Federal prosecutors in Brooklyn say Asif Merchant, 46, spent time in Iran before traveling to the United States to recruit people for the plot
- Merchant told a confidential informant he also planned to steal documents from one target and organize protests in the US, prosecutors said
NEW YORK: A Pakistani man with alleged ties to Iran is set to appear in US court on Monday on charges of scheming to assassinate an American politician in retaliation for the killing of Iran’s Revolutionary Guards top commander Qassem Soleimani.
Federal prosecutors in Brooklyn say Asif Merchant, 46, spent time in Iran before traveling to the United States to recruit people for the plot.
Merchant told a confidential informant he also planned to steal documents from one target and organize protests in the United States, prosecutors said.
The defendant named Donald Trump as a potential target but had not conceived the scheme as a plan to assassinate the former president, according to a person familiar with the matter who spoke on condition of anonymity.
Court papers do not name the alleged targets, and no attacks were made. As president, Trump had in 2020 approved the drone strike on Soleimani.
There are no suggestions that Merchant was tied to an apparent assassination attempt on Trump at his Florida golf course on Sunday, or a separate shooting of the Republican presidential candidate at a rally in Pennsylvania in July.
Merchant faces one count of attempting to commit terrorism across national boundaries and one count of murder for hire.
He is expected to enter a plea before US Magistrate Judge Robert Levy in Brooklyn at 12 p.m. EDT (1600 GMT). Merchant was arrested in Texas on July 15.
Iran’s mission to the United Nations said in August that the “modus operandi” described in Merchant’s court papers ran contrary to Tehran’s policy of “legally prosecuting the murder of General Soleimani.”
Pakistan says global commodities trader Gunvor Group ‘keen’ to invest in petroleum sector
- Last month, Gunvor Group signed an agreement to acquire 50 percent shares of Pakistan’s Total Parco oil marketing company
- PM Shehbaz Sharif informs Gunvor Group chairman of reforms undertaken to increase foreign investment in Pakistan
ISLAMABAD: Global commodities trader Gunvor Group has expressed its “keen” interest in investing in Pakistan’s petroleum sector, Prime Minister Shehbaz Sharif’s office said on Monday.
The statement came after Sharif’s meeting with Gunvor Group Chairman Torbjorn Tornqvist and Total Energies Vice President Oceania & Southeast Asia Mehmet Celepoglu
During the meeting, the prime minister highlighted the rapid reforms that were underway to increase investment and business activities in Pakistan, according to PM Sharif’s office.
“Chairman Torbjorn Tornqvist expressed the Gunvor Group’s keen interest in investment in the petroleum sector of Pakistan,” it said in a statement.
The prime minister was informed that the Gunvor Group had signed an agreement in August to acquire 50 percent shares of Total Parco Pakistan Limited, a subsidiary of French oil giant Total Energies.
A joint venture between Total Energies and Pak-Arab Refinery Limited in Pakistan, Total PARCO Pakistan Limited has a retail network of more than 800 service stations and is involved in fuel logistics and lubricants.
“The prime minister directed the relevant authorities to provide all possible facilities to the Gunvor Group,” Sharif’s office said.
Since avoiding a default last year, Islamabad has been making attempts to boost foreign investment and trade to drive economic growth in the South Asian country.
In recent months, Pakistan has reached multiple investment deals with a number of countries, mainly the Gulf states, in infrastructure, energy, maritime, ports and other sectors.
Pakistan reports sixth case of mpox virus in Islamabad
- Patient admitted to the isolation ward of Islamabad’s Pakistan Institute of Medical Sciences
- Mpox is mild but people with weakened immune systems are at higher risk of complication
ISLAMABAD: Pakistani health authorities on Monday confirmed a sixth case of mpox virus in the federal capital of Islamabad, saying the patient was admitted to the Pakistan Institute of Medical Sciences (PIMS) hospital.
The Border Health Staff (BHS) detected mpox symptoms in a 44-year-old man during screening at the Islamabad International Airport, according to the federal health minister.
Since confirming its first mpox case last month, Pakistan has implemented stringent screening protocols at all airports and border crossings for the screening of travelers.
“The sixth case of mpox has been reported in Pakistan,” a health ministry spokesperson said in a statement. “The travel history of the 44-year-old man is from Gulf countries.”
Patients who contract mpox get flu-like symptoms and pus-filled lesions. Mpox is usually mild but can kill. Children, pregnant women and people with weakened immune systems are at higher risk of complications from the infection.
On Sept. 8, health authorities declared Pakistan’s Khyber Pakhtunkhwa province mpox-free after all four patients previously infected with the virus recovered.
Dr. Mukhtar Bharath, the prime minister’s coordinator for health, said the health ministry was working closely with provincial authorities to monitor new cases and around 630,000 passengers had so far been screened at airports.
“Effective measures are being taken to protect people from mpox,” Dr. Bharath said.
The World Health Organization has declared a global health emergency over the spread of a new mutated strain of mpox named clade I, which first emerged in the Democratic Republic of Congo and has since spread to several countries, leading to increased monitoring and preventive measures worldwide.
Sindh minister orders security for polio worker who says she was raped on duty
- The polio worker testified before a local court on Friday that she was raped while she was on duty
- But the woman later retracted her statement amid threats by her husband for being an ‘adulteress’
KARACHI: Provincial Health Minister Dr. Azra Fazal Pechuho on Monday took notice of alleged rape of a polio worker in the Jacobabad district of Pakistan’s southern Sindh province and instructed police to provide her round-the-clock security.
The incident occurred in Allah Baksh Jakhrani village of Jacobabad. The polio worker testified before a local court on Friday that she was raped while on duty, Pakistan’s Dawn newspaper reported. A day later, the polio worker retracted her statement and said she was robbed, reportedly amid threats by her husband for being a ‘Kari,’ an adulteress, who deserves death.
The Sindh health minister has instructed police to provide security around the polio worker’s current residence and requested Chief Minister Murad Ali Shah to provide the woman with monetary compensation to help her take care of her children.
“Our female polio workers are the backbone of the polio program and protecting them has always been the utmost priority of the program,” Dr. Pechuho said. “I am taking every necessary action to ensure that she gets the justice she deserves.”
On Sept. 9, Pakistan launched a week-long, nationwide polio campaign amid a spike in militant attacks. The potentially fatal, paralyzing disease mostly strikes children under the age of five and typically spreads through contaminated water.
Two days later, a roadside bomb hit a vehicle carrying officers assigned to protect health workers conducting polio immunization in the northwestern South Waziristan district, in the same province, wounding six officers and three civilians. The militant Daesh group later claimed responsibility for the attack.
Anti-polio campaigns in Pakistan are regularly marred by violence. Militants target vaccination teams and police assigned to protect them, claiming that the campaigns are a Western conspiracy to sterilize children.
Since January, Pakistan has reported 17 new cases of polio, jeopardizing decades of efforts to eliminate polio in the country. Pakistan and Afghanistan are the only countries in which the spread of polio has never been stopped.