Punjab CM forges partnership with GGGI to boost carbon finance, green growth

• CM Maryam meets GGGI DG at COP-30 in Belém, to discussion climate change mitigation, flood relief, and sustainable development
• Partnership to convert Punjab’s climate projects into international carbon credits, support carbon financing and green growth programs

LAHORE: Punjab Chief Minister Maryam Nawaz on the sidelines of the COP30 conference in Belém, Brazil, met with Kim Sang-hyup, Director General of the Global Green Growth Institute (GGGI), to cement a strategic partnership aimed at advancing environmental improvement and sustainable development in Punjab.

The collaboration is expected to strengthen Pakistan’s capacity in global carbon markets, promote green financing projects, and convert provincial climate initiatives into international carbon credits.

During the meeting, CM Maryam Nawaz and Kim Sang-hyup discussed pressing challenges related to climate change and explored ways for Punjab to leverage GGGI’s expertise to achieve its green growth goals. Kim Sang-hyup lauded the Punjab government’s environmental measures, particularly in addressing the historic flood crisis, and praised the largest rescue and relief operations undertaken under the Chief Minister’s leadership.

He also appreciated CM Maryam Nawaz’s address at COP30, highlighting her vision and passion for environmental sustainability. “Your vision reflects a firm commitment to environmental improvement in Punjab. We look forward to collaborating with you to achieve sustainable development goals,” Kim Sang-hyup said. In response, CM Maryam Nawaz emphasized the importance of advancing Punjab’s green initiatives with GGGI’s experience, technical support, and global outreach, expressing her gratitude for the institute’s role in environmental improvement.

CM Maryam Nawaz briefed the delegation on the environmental initiatives undertaken by her government in Punjab over the past one and a half years, including programs that could now be converted into carbon credits under GGGI’s guidance.

The Global Green Growth Institute is a leading institution in carbon finance and green growth, particularly focused on assisting developing countries to access international carbon markets. GGGI implements programs under Article 6 of the Paris Agreement, providing mechanisms such as the Carbon Transaction Facility (CTF) to facilitate green financing.

The partnership with GGGI will help Punjab enter the global green financing market and implement projects in multiple sectors, including water and sanitation programs, the Suthra Punjab initiative, e-mobility projects, anti-smog mitigation efforts, and Plant for Pakistan afforestation programs.

Since its formation at the United Nations Conference on Sustainable Development (Rio+20) in 2012, GGGI has expanded from 18 core members to 50 by 2024, with 29 partner countries. The institute works globally to advance regional afforestation, green growth, and environmental improvement goals.

Kim Sang-hyup, who has previously served as co-chairman of the Korean Presidential Commission on Carbon Neutrality and Green Growth, expressed optimism about the partnership. “With Punjab’s existing initiatives and GGGI’s global expertise, we can create a sustainable model for climate action that can be replicated across the region,” he said.

The high-level meeting was also attended by Senior Provincial Minister Marriyum Aurangzeb, provincial ministers Rana Iskander Hayat and Zeeshan Rafique, Chief Secretary Zahid Akhtar Zaman, Chairman Planning & Development Naeem Rauf, and DG Environmental Protection Agency Imran Hamid.

CM Maryam Nawaz’s engagement with GGGI underscores Punjab’s proactive approach to climate change, carbon finance, and sustainable development. By integrating provincial initiatives with global carbon markets, the government aims to unlock financing for green projects, scale environmental interventions, and enhance the province’s contribution to Pakistan’s climate targets.

According to the framework, the strategic collaboration with a globally recognized green growth institution is expected to provide Punjab not only with technical support and capacity building, but also with a platform to showcase successful environmental projects on an international stage, further elevating Pakistan’s role in global climate governance.