The Carbon Credit Markets: A Potential Source of Sustainable Growth for Pakistan

Abstract

The world economies, primarily driven by capitalist values, were historically focused on maximizing profits and capital growth. This focus has led to substantial productivity and industrial development. Nevertheless, it caused an environmental crisis characterized by significant carbon emissions that resulted in climate change and global warming. It is a global consensus now that climate change has compromised the viability of humanity's social and economic development. The scarcity of water and food, the increase in floods and other natural calamities, and the spread of fatal diseases are the likely consequences of global warming and climate change. Accordingly, many measures are required to cut carbon emissions to combat sustainability crises.