31st January, 2015
Carbon-Plus Capital and Stakeholder Democracy Network today released the findings and recommendations of Phase I of the Niger Delta Climate Resilience Initiative, a 6-month scoping project to determine the potential of carbon market-based finance to support a transition to sustainable, low-carbon development in Nigeria’s Niger Delta region.
A key recommendation of the report is the establishment of a public:private partnership with the Federal Ministry of Environment and the Ministry of Environment of Bayelsa State Government to test the Initiative’s underlying concepts in the form of a pilot.
Phase II will take approximately 12 months to complete and will focus initially on securing a Letter of No Objection from the Federal Department of Climate Change, the Designated National Authority for approving carbon market finance-based activities in Nigeria, a process which the Nigerian Embassy of the Kingdom of the Netherlands has generously agreed to support.