The National Council on Climate Change (NCCC) has taken decisive action in response to the COP28 mandate by organising an innovative training workshop. This two-day event, titled “Nigeria’s Carbon Market Activation Plan: Nigeria’s Article 6 Framework & Implementation Design under the Paris Agreement”, aims to bring about ground breaking progress in its commitment to climate change. With the backing of the United Nations Development Programme (UNDP) and Neyen Consulting SL, this workshop aims to propel Nigeria to the forefront of carbon market development. Doing so takes a significant stride towards effectively putting Article 6 of the Paris Agreement into action.
At the NAF Conference Centre, the opening ceremony took place where the Minister of Environment, Balarabe Abbas Lawal, was incredibly represented by Alh. Mahmud Adam Kambari, the permanent secretary in the Ministry. During the ceremony, Abbas emphasised the significance of carbon markets for the attainment of global climate objectives and Nigeria’s ambitious Nationally Determined Contributions (NDCs) targets. He stressed the significance of carbon markets as an essential mechanism to rally funds, cut expenses, and smoothen the country’s shift towards a low-carbon economy.
Tapping into this potential requires international collaboration.
He emphasised Nigeria’s immense capacity to produce numerous carbon credits on a yearly basis by 2030 by taking on endeavours such as restoring forests, implementing Renewable Energy systems, and engaging in waste-to-energy projects. He reiterated that tapping into this splendid potential necessitates forging alliances with foreign nations, enhancing skills, and making focused investments. He underlined that the key to fully harnessing the advantages offered by carbon markets lies in collaborating with international allies and cultivating the necessary expertise and resources.
Also, he emphasised that Nigeria is dedicated to reducing Emissions and pointed out that the country has updated its NDC and is actively involved in important climate initiatives. He confirmed that the commitment to reducing Greenhouse gas emissions is clearly shown by the targets set in the country’s NDCs and its active involvement in partnerships under Article 6. Similarly, Dr. Salisu Dahiru, the director-general of the NCCC, highlighted the crucial significance of Article 6 during his introductory speech. He stressed its vital role in achieving Nigeria’s ambitious goal of reaching Net Zero by 2060.
Participants are equipped to tap into the carbon markets.
Implementing a thoughtfully crafted trading scheme, complemented by market-based mechanisms, was emphasised as a powerful means to drive down emissions. According to Salisu, the workshop provides participants with the necessary knowledge and skills to tap into the power of carbon markets while adeptly managing the risks that come with them. Salisu emphasised the urgent need to establish a strong institutional framework for carrying out Article 6 activities effectively. As the National Designated Article 6 Authority (NDAA), the NCCC takes charge of monitoring all transactions and granting approval to projects that align with national objectives.
In order to facilitate collaboration and assess the effects of cooperation agreements on emission reduction, sustainable development, and financial resource mobilisation, a Technical Committee is known as A6.TC has been established under Article 6. Salisu also recognised the importance of stakeholder involvement and expressed his gratitude towards the diverse participants from different sectors and government agencies, emphasising their crucial role and valuable input. The force of cooperation enables them to channel their efforts towards creating a beneficial impact, nurturing sustainable development, and constructing a robust ecosystem that benefits everyone.
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Moreover, President Bola Tinubu’s unwavering backing was firmly pronounced by the director-general, who explicitly pledged to eliminate any hindrance that may impede the nation’s aspirations. Devoting two full days to thoughtful deliberations, participants drawn from multiple government agencies and the Private Sector keenly engrossed themselves in intensive conversations. The paramount objective was to empower these individuals with indispensable knowledge and aptitudes, enabling them to actively contribute towards the establishment and execution of an operational carbon market structure in Nigeria.