Tuesday, February 27, 2024

Nigeria Gears Up For Carbon Trading: NCCC Hosts Training On Article 6 Implementation

NCCC FMEnv
A cross section of dignitaries at the workshop in Abuja.

Following the COP28 call for concrete action, the National Council on Climate Change (NCCC) has orchestrated a groundbreaking two-day training workshop titled “Nigeria’s Carbon Market Activation Plan: Nigeria’s Article 6 Framework & Implementation Design under the Paris Agreement”, in a decisive move towards realising its climate commitments

Supported by the United Nations Development Programme (UNDP) and Neyen Consulting SL, the workshop aims to position Nigeria as a front-runner in carbon market development, marking a pivotal step towards the practical implementation of Article 6 of the Paris Agreement.

The opening ceremony, hosted at the NAF Conference Centre, witnessed the representation of the Minister of Environment, Balarabe Abbas Lawal by the permanent secretary in the Ministry, Alh. Mahmud Adam Kambari.

Abbas underscored the importance of carbon markets in achieving global climate goals and Nigeria’s ambitious Nationally Determined Contributions (NDCs) targets. He emphasised that carbon markets serve as a crucial tool to mobilise resources, reduce costs and facilitate the nation’s transition to a low-carbon economy. He highlighted Nigeria’s vast potential to generate millions of tons of carbon credits annually by 2030 through initiatives like reforestation, renewable energy and waste-to-energy projects.

The minister stressed that unlocking this potential requires international partnerships, capacity building and targeted investments. “Collaboration with international partners and the development of requisite skills and resources are essential to fully capitalise on the opportunities presented by carbon markets,” he stated.

Highlighting Nigeria’s commitment to emissions reduction, the minister cited the country’s updated NDC and active participation in relevant climate initiatives. “Our steadfast efforts to curb greenhouse gas emissions are evident through our NDC targets and engagement in partnerships under Article 6,” he affirmed.

In his opening remarks, the director-general of the NCCC, Dr. Salisu Dahiru accentuated the strategic importance of Article 6 in realising Nigeria’s ambitious Net Zero target by 2060. He emphasised that a well-designed and implemented trading scheme, including market-based mechanisms, can be a potent tool for emission reduction. The workshop, according to Salisu, equips participants with the knowledge and skills necessary to unleash the potential of carbon markets while effectively managing associated risks.

Salisu stressed the imperative of establishing a robust institutional architecture for effective Article 6 activities. The NCCC, functioning as the National Designated Article 6 Authority (NDAA), oversees all transactions and authorises projects aligned with national interests.

Additionally, the creation of an Article 6 Technical Committee (A6.TC) ensures cross-ministerial coordination and evaluates the impact of cooperation agreements on emission reduction, sustainable development and financial resource mobilisation.

Acknowledging the essential role of stakeholder collaboration, Salisu addressed the diverse participants representing various sectors and government agencies. “Your guidance and comprehensive input are essential,” he expressed. “Together, we can harness the power of collaboration to drive positive change, foster green growth, and build a resilient environment for all”.

The director-general assured of President Bola Tinubu’s support, emphasising that any obstacle hindering the nation’s aims in this regard would be dismantled.

Participants from various government agencies and the private sector engaged in intensive discussions over the two-day workshop, aiming to equip them with the knowledge and skills needed to contribute to the development and implementation of a functional carbon market framework in Nigeria.

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