Pakistan has entered the global carbon market by signing its first bilateral agreement under Article 6.2 of the Paris Agreement with Norway. This deal allows for the trade of Internationally Transferred Mitigation Outcomes, enabling Pakistan to attract finance and technology for climate resilience in exchange for carbon credits. The agreement aims to support the development of renewable energy projects and forest restoration in Pakistan while helping Norway meet its climate obligations. This move establishes a framework for Pakistan to engage with other high-emitting nations to fund decarbonization efforts.
