Global Bargains for Reducing Carbon Emissions

Climate change has emerged as one of the greatest threats to humanity, posing serious risks to ecosystems, economies, and societies worldwide. Climate change has emerged as a truly worldwide problem, which is characterized by a stark paradox, which means the countries that are most vulnerable to climate change impacts are often those who are least responsible for greenhouse gas (GHG) emissions. This disparity has created the need for innovative solutions and collaborative efforts, particularly for global bargains to reduce GHG emissions. Nations across the globe are not only acknowledging these threats but also actively seeking solutions to mitigate climate change impacts and adapt for a sustainable future. Pakistan is no exception. Countries like Pakistan provide a striking example of the inequities inherent in the climate crisis. Despite contributing less than one percent of global greenhouse gas emissions, Pakistan remains one of the most vulnerable countries to climate change. Pakistan faces severe climate-induced challenges, including devastating floods, declining agricultural productivity, and emerging water crises. The recent devastating floods in 2022 serve as a stark reminder of the countrys susceptibility to climate-induced disasters. Therefore, it is the most discussed issue around the globe, how carbon emissions can be reduced to minimize the consequences of climate change. Recognizing the urgency, Pakistan recently launched its first carbon market policy, aiming to integrate global climate strategies and build resilience. To explore opportunities, the Pakistan Institute of Development Economics (PIDE), Pakistans premier think tank hosted a webinar entitled Global Bargains for Reducing Carbon Emissions. For this webinar, Dr. Seema Jaychandran, Professor of Economics and Public Affairs from Princeton University, USA was invited. She is a distinguished expert in environmental conservation with a special focus on developing nations. The session emphasized vulnerability to climate change and the urgent need for policy intervention and international cooperation exclusively in the context of reducing carbon emissions or mitigation. This webinar was moderated by Dr. Nasir Iqbal, Dean PIDE School of Social Sciences and Head Macro Policy Lab (MPL) at PIDE. This webinar was attended by very diverse experts, students, and researchers.