The Federal Government in its bid to achieve zero emissions by 2030 has partnered with Eko Carbon Exchange.
The Federal Government represented by the Ministry of Environment announced the launch of the initiative at the 2019 United Nations Climate Change Conference of Parties in Madrid, Spain, recently.
The move according to the partners is targeted at reducing the effects of climate change in Nigeria and indeed the entire African continent, necessitating the Federal Ministry of Environment and other government agencies to enter into the partnership with Eko Carbon Exchange.
The UN Conference in Spain attracted African and international experts and sustainability actors including Nigeria, who all discussed how to protect the continent from the harsh effects of climate change.
The launch which followed a side event conversation on Emissions Reduction Projects: Showcasing African Initiatives in solid waste and transport sectors, attracted African and international experts and sustainability actors including members of Nigerian delegation to the conference, labour unions, environment activists, officials of the Federal Ministry of Transport as well as African and international civil society groups.
In his welcome address, the Managing Director of Eko Carbon Exchange, Innocent Azih, noted that it is the first of such platform in West Africa.
He explained that the Exchange is mobilising to harness the opportunities in low-carbon development across all economic sectors of states of Nigeria, starting with the solid waste and transport sectors.
He said it will also serve as regional vehicle for mobilising finance for low-carbon economic development for West African economies through the Clean Development Mechanism.
“The objective is to mobilise the necessary resource pool and low-Carbon finance required for greening all economic sectors.”
In his presentation, Head of Climate Change Mitigation, Federal Ministry of Environment, Hajia Aisha Jibril, who represented the Director of Climate Change, Dr. Peter Tarfa, said the Ministry was ready to work with the Exchange to enable Nigeria achieve the nationally determined contributions through projects implementation that are fully mainstreamed.
She commended the efforts made by the ministry from policy incentives, education and awareness of actors through climate change desks at state levels, to development of the Nigerian Carbon emission registry. She asked stakeholders, including Eko Carbon Exchange to partner the ministry to ensure early realisation of the registry.
In a technical session, the Managing Director of Base Agency for Sustainable Energy, Daniel Magallon, said Africa is both the victim and beneficiary of new global efforts at containing emissions growth.