What are your views on Nigeria's Carbon Market Activation?
We could start by making the framework/policy document readily accessible.
@temple-oraeki You can download the draft policy from our website. Click on the Resources tab and scroll down to find relevant climate policy documents
@ossapcfsegooglemail-com Awesome! Way to go. With such accessibility, more stakeholders can be kept abreast and able to contribute meaningfully to its effective activation.
Fantastic topic! Visionary!
I’m currently drafting models to harness viable business benefits of sustainable development initiatives: “a practical commercial move to making sustainability profitable”.
Given the set global market for carbon credit I consider carbon credit a viable business benefit by keying into local policies in alignment with global framework for global relevance and acceptability. The truth is if we can successfully monetize carbon reduction as a trade market, more organizations, especially those with heavy emissions will key in.
These specific policies should regulate the carbon market with a holistic approach, addressing: carbon emissions baseline for what can be considered carbon credit program; registering, screening, verifying, validating, issuing credits generated and offset trading activities;
If we do not yet have these specific policies, or need to strengthen it, I’m at the service of this visionary body.
Let’s get our carbon credit policies and frameworks right and implement strategically with other trade markets so credits generated would have met due diligence and can be accepted globally.
@chinedu-ololo Thanks for your input. The Carbon Market Policy is currently being finalised and addresses some of the points you made. You can download a draft from our website. Go to the Resources tab and scroll down to Policy documents.
@ossapcfse looking forward to the approval of the carbon market activation plan by the Federal Executive Council.
The Climate Change Fund is a very important financial pool and mechanism for many. I’m also looking forward to seeing it reviewed, adopted and approved.
@chinedu-ololo The operationalisation of the Climate Change Fund is also underway, with discussions taking place with the Ministry of Finance, Ministry of Budget & Planning, and the Nigeria Sovereign Investment Authority (NSIA) on the appropriate fund structure and mobilisation strategy
