Page 7 - CMA Journal (Nov-Dec 2025)

EXCLUSIVE

INTERVIEW
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Dr. Musadik Masood Malik

Federal Minister for Climate Change
³
The most creative climate finance strategy in Pakistan is to create a

web of startups, which will attract funding and create a robust green

cluster. To secure its fair share, Pakistan is creating a portfolio of

cutting-edge projects and exploring innovative financing instruments
such as green bonds and debt-for-climate swaps ³

ICMA: Pakistan is launching a carbon market. How will Investment, enhance transparency and bring about
this shape the country's climate finance landscape? innovation in financial mechanisms. Last but not the
least, the emerging carbon marketplace will support the
Dr. Musadik Malik: Pakistan's new carbon market is
National Climate Goals envisaged under NDCs.
designed to fundamentally reshape the country's
climate finance landscape by mobilizing private and ICMA: Global Climate Funds often favor major
public-sector investment for emissions reduction entities. How can Pakistan secure its fair share as a
projects. This shifts the focus from aid-dependent climate-vulnerable country?
models to market-based solutions, offering a path to
self-sustaining climate action and economic growth. Dr. Musadik Malik: Global climate finance has
Pakistan has already signed bilateral government- historically flowed disproportionately to large and
to-government contracts in this regard. The Carbon middle-income countries, including major emitters,
market will create a direct financial incentive for entities while the most climate-vulnerable, low-income nations
to transition to low-emission technologies and develop remain underserved. This imbalance is compounded by a
projects that actively reduce greenhouse gas (GHG) funding architecture that has prioritized mitigation o ver

emissions. The qualified projects will secure International adaptation, despite the urgent needs of frontline states.
ICMA’s Chartered Management Accountant, Nov-Dec 2025