Baku, Islamabad explore joint green investment opportunities Eye carbon market cooperation

Pakistan and Azerbaijan are stepping up their climate cooperation, with senior officials from both countries discussing joint investment in green projects and the development of Pakistan’s underutilised carbon market.

On May 5, Pakistan’s Federal Minister for Climate Change, Musadik Masood Malik, held talks in Islamabad with Azerbaijani Ambassador Khazar Farkhadov, focusing on environmental protection, climate resilience, and carbon emissions trading. The meeting was confirmed by Pakistan’s Ministry of Climate Change, Caliber.Az reports via domestic media.

“Minister Malik held a meeting with the Azerbaijani ambassador to discuss cooperation in environmental protection, climate resilience, and carbon emission trading,” the ministry said. “During the meeting, the minister proposed joint initiatives to utilise Pakistan’s untapped carbon market. The Azerbaijani ambassador reaffirmed his commitment to strengthening bilateral ties in this area.”

Malik urged Azerbaijan to explore investments in Pakistan’s carbon market, emphasising the potential for lucrative returns. “Such investments could bring profits significantly exceeding the initial outlay,” he said, adding that the resale of carbon credits on international markets could offer added financial benefits.

He also pointed to Pakistan’s growing renewable energy potential, particularly in solar power, and invited Azerbaijan to collaborate on new green economy ventures. “The minister expressed interest in creating joint enterprises within the framework of the green economy,” the statement said.

Malik stressed that Pakistan is placing increasing emphasis on expanding its green industry and creating an environment conducive to sustainable initiatives. “In this regard, the minister invited Azerbaijan to explore opportunities for joint ventures that could bring mutual benefits to investors from both countries.”

He added that “sustainable development depends on strategic partnerships and international cooperation,” and positioned Pakistan as a future green industry hub. “Pakistan is positioning itself as a centre of green industry and is interested in international partnerships to implement projects that generate economic benefits and support environmental protection. This opens up unique investment opportunities for Azerbaijani and Pakistani stakeholders and creates a mutually beneficial platform for cooperation,” Malik said.

Ambassador Farkhadov welcomed the proposals and expressed Azerbaijan’s readiness to deepen engagement, highlighting his country’s capacity to support Pakistan’s green agenda.

By Tamilla Hasanova