Carbon Credits. And What it Means For Us?
Remember the photos of smiling Fijian women receiving their 4G cook stoves?
More women in Seaqaqa and Dreketi received theirs this week. But before they walk away with the stove that operates with less firewood inorder to get more heat, they are required to sign a form titled, Korea Carbon – Agreement Between Beneficiary and KCM, Transfer of Rights to Carbon Credits. This cedes all rights to any carbon credits that may be generated by the operation of the 4G Cook Stove to Korea Carbon Management Ltd (KCM).
The women waived the carbon credit in exchange for a free supply of the improved 4G Cook Stove. Outlined on the form, carbon credit means Certified Emission Reductions (CERs) generated under the Clean Development Mechanism (CDM). It is governed by the laws of Fiji.
This is all part of the global carbon markets which aims to produce cleaner air, improve resource efficiency, ensure energy security and at the same time create jobs.
In fact, the carbon markets offer the opportunity for a country to reduce the cost of mitigating anthropogenic greenhouse gas (GHG) emissions and to implement sanctions on high emitting industries and nations. So, when our women use the 4G cook stove, they contribute to our global fight against the effects of climate change.
The target is to reach 60,000 homes. On a global scale, the amount of carbon we emit is peanuts compared to industrialised nations. But the Fijian Government is adamant that we still need to do our part.
WHAT WE ARE DOING?
The Ministry of Economy is the National Designated Authority for the Clean Development Mechanism (CDM).
It is responsible for the review and approval of the development of CDM projects and its registration under the United Nations Framework Convention on Climate Change (UNFCCC).
Recently, Fiji signed the Emission Reduction Payment Agreement with the World Bank.
This puts us on track to receive result-based payments for the 2.5 million tonnes of emission reduction committed under the four-year programme.
This is part of the REDD+ carbon mechanism also established under the UNFCC.
Ministry of Economy Acting Head of Division and Climate Finance Specialist, Vineil Narayan said this was the first time ever Fiji will be engaging in carbon trading at a national scale.
“While only 20 districts have been earmarked for this programme, there are no limitations on individuals who are willing to participate to receive results-based payments for REDD+ activities that they implement.
“An interesting feature of this programme is that 95% of the carbon credits that are verified and traded through World Bank to the Forest Carbon Partnership Facility will be cancelled or re-transferred to the
selling country,” he said.
CURRENT PROJECTS REGISTERED UNDER THE UNFCCC 1. Kinoya Sewerage Treatment Plant methane Flaring Project
In the Kinoya Project the methane that is being generated is being flared and avoided emissions in the form of carbon credit is traded with the Asian Development Bank (ADB), Mr Narayan said.
“This project reduces greenhouse gases emissions by approximately 22,000 tons carbon dioxide per year at the same time generates income that can be utilised for the upgrade and development of the wastewater treatment plant in Kinoya.”
2. Nadarivatu Hydropower Project
The project was developed with finance made available through concessional loans from the World Bank and the China Development Bank.
Mr Narayan said the emission reduction units generated by the dam were sold under the Clean Development Mechanism Board providing the incentive and economic viability to pursue the project.
He said carbon market activities can be harnessed to venture into large scale renewable energy projects that would create jobs, provide clean green energy and in return receive payment for the carbon dioxide that is abated from diesel power generators.
3. Clean cook stoves Programme of Activities
This is perhaps the first private sector driven initiative in Fiji. In fact, the Korean company has provided the clean cook stoves for Fijian communities.
Kasabias PTE Limited thorised dealer.
For this improved cook stove programme, the carbon dioxide avoided from open stoves and inefficient stoves would be traded as carbon credits to a Korean based company. is the au
FUNDING OF CARBON CREDIT INITIATIVES
Mr Narayan has clarified that currently no public funds are utilised in Carbon market programmes as most are funded by trading partners or implementation entities. “Government has been providing administrative and technical support as the National Designated Authority for the Clean Development Mechanism.
“However, under the Fiji Emission Reduction Programme, which has a total budget of US$41 million (FJ$83.55m), the Fijian Government will be contributing US$13m (FJ$26.9m) to the activities for next five years,” he said.
This US$13m (FJ$26.9m) is the projected budget support based on the current budget allocation to Ministry of Forestry and other Government agencies contributing to the programme.
The High Court in Suva has fixed a two-week trial in the case of a 43-year old carpenter facing arson and murder charges.
Arvind Chand Rai appeared before Justice Salesi Temo yesterday.
The trial is set to begin on August 23 and end on September 3 this year
Rai is charged with one count each of arson and of murder of a 35-year-old woman.
The alleged incident occurred in Lami on July 22, 2020.
The deceased was found unconscious by National Fire Authority officers when attending to a report of a fire at the deceased’s home. Rai was remanded in custody by the High Court.
ASHNA KUMAR
Edited by Ranoba Baoa
ashna.kumar@fijisun.com.fj
More than 60 applications have been received for the 2020-2021 National Disability Awards which closed yesterday.
United Blind Persons of Fiji organising committee chairperson, Rajnel Prasad, said: “The response from interested candidates have been very positive and overwhelming.
“We have eight sponsors that have shown tremendous commitment and support towards the awards night along with HomeCare Independent as our major sponsor,” he said.
The award promotes with disability.
The judging committee will be vetting applications before awards night on March 27 at the FMF Gymnasium in Suva. inclusivity for persons
Last year’s awards ceremony was cancelled because of the COVID19 and restrictions.
Fiji Sun is also one of the media partners for the event.
Tickets are on sale for $100 at the National Disability Centre.
The following awards will be presented TO fiNALISTS:
Youth of the Year Award
Entrepreneur of the Year Award
SME of the Year Award
Sports Person of the Year Award Student of the Year Award
Women in Leadership of the Year Award Senior Manager of the Year Award Administrator of the Year Award Volunteer of the Year Award
Life Time Achievement Award.