As we speak is Wednesday, April 17, 2024.
Nigeria introduced its “National Carbon Market Activation Plan”.
In accordance with the press launch, “in an effort to create a plan to drive a sustainable and efficient carbon market ecosystem… initiative to harness Nigeria’s vast carbon potential, which exceeds 2 billion dollars… expand our participation in the voluntary and regulated carbon market”.
The plan is predicted to incorporate an emissions buying and selling regime, a carbon register, a framework for high-integrity carbon credit and even its personal methodologies, with consideration to Article 6 of the Paris Settlement. On this sense, it’s price looking on the publications from Nigeria’s National Council on Climate Change.
Moreover, the plan additionally goals to handle Nigeria’s carbon footprint. The press launch signifies “focus on natural gas as a local transition fuel, investment in renewable energy sources”. Nigeria’s economic system is closely depending on oil.
The Africa Carbon Market Initiative (ACMI) is collaborating and supporting all of this. Final yr, in March 2023, ACMI revealed a 12-page analytical report indicating the “huge untapped potential” of Africa, as simply 5 nations – Kenya, Zimbabwe, Congo (DRC), Ethiopia and Uganda – characterize round 65% of carbon credit issued, with greater than 70% of initiatives in forestry or use of the soil. In that report, Nigeria was indicated with carbon credit score emissions of lower than 3.5 MtCO2e.
Clique here to see the members of Steering Committee do ACMI. Dentre eles ICVCM, Gates Basis, Bezos Earth Fund e The Rockefeller Basis.
Nonetheless on Africa, a number of days in the past, on LinkedIn, we revealed one other white-paper report from the African Vitality Council on the potential of that continent, entitled “Carbon Credit: Catalyzing Carbon Finance in Africa“. The report cited Nigeria’s South-South area and its mangroves as “world-class for carbon reduction.” post and right here himself white-paper.
Click on on the picture under for the March 7, 2024 press launch from the Nigerian authorities.
Nigeria is the nation with the most important inhabitants in Africa. In 2023 there have been greater than 223 million inhabitants.
