Pakistan and Germany on Thursday signed a Memorandum of Understanding (MoU) on Clean Development Mechanism (CDM) at a ceremony held at the German Ministry for the Environment, Nature Conservation and nuclear safety. The MoU was signed by Ambassador Shahid Kamal on behalf of the Ministry of Environment, Government of Pakistan and State Secretary Mathias Machnig, on behalf of the German Ministry of Environment.
The Clean Development mechanism (CDM) is a market based instrument under the Kyoto Protocol to assist developing countries in sustainable development by reducing Greenhouse Gases (GHG) emissions by implementing projects to earn Carbon Credits. The MoU with Germany will promote co-operation towards reducing green house gas (GHG) emission. It will develop and improve framework conditions, which facilitate the implementation of project activities under the CDM.
The MoU also provides basis for exchange of information on CDM project opportunities in Pakistan, project funding and financing conditions, compliance and eligibility requirements for participation in CDM project activities assessment of project activities. The MoU on CDM will further foster closer co-operation with Germany in the field of environment and will open up new opportunities for enhancing co-operation in the areas of renewable energy, energy efficiency and low carbon economy.
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