Nigeria, UNEP, UNDP sign MoU on CDM

The Federal Ministry of Environment in Nigeria has signed a Memorandum of Understanding (MoU) with the UNDP and the United Nations Environment Programme (UNEP), to facilitate the implementation of Clean Development Mechanism (CDM) in the country.

The Permanent Secretary in the ministry, Mohammed Bashar, announced this at a two-day stakeholder’s workshop on“Enhancing Capacity for Clean Development Mechanism (CDM) Implementation in Nigeria”on Thursday in Abuja, Nigeria’s capital.

He said the MOU became necessary because Nigeria was yet to have a fair share of CDM project as obtained in most African countries.

Bashir, who was represented by the Director, Human Resources in the ministry, Mr Gambo Jakada, attributed absence of CDM in the country to lack of capacity for actualising the aims and objectives of the project.

CDM project

Reports say that CDM allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits used by industrialised countries under the Kyoto Protocol.

CDM, the main source of income for the UN Frame work Convention on Climate Change (UNFCCC), was established to finance climate change projects and programmes in developing countries that were parties to the Protocol.

He said the workshop would benefit members of the private sector, including the political class, CMD-related line ministries and sectors as energy, oil and gas, and agriculture.

Objectives

The overall objective of CMD includes building capacity in developing CDM project activities, promoting investment opportunities for projects, information sharing/outreach and exchange of views.

Bashir also said the workshop would further build the capacity of local financial institutions in appraisal and funding of CDM projects.

NAN/Adekusibe/Williams