Namibia Enters the Global Carbon Credits Market
On 28 April 2022 the RDJ Consulting Team had the pleasure to attend the Inception Workshop for the Project “Promotion of carbon markets in Namibia for an enhanced implementation of the nationally determined contributions ( NDC) towards net- zero emissions and climate- resilient development, in response to the climate emergency”.
The event was held at the United Nations ( UN) House in Windhoek, was championed by the United Nations Development Programme ( UNDP) Namibia and South Africa and the Ministry of Environment, Forestry and Tourism ( MEFT). Those in attendance were the Ministry of
Mines and Energy ( MME); the Namibian Nature Foundation ( NNF), the Ministry of Industrialization; the Ministry of Agriculture, Water and Marine Resources ( MAWMR); the British High Commission; Standard Bank; RDJ Consulting Services CC.; the Namibian Youth on Renewable Energy ( NAYoRE); and other.
The project was funded under a South- South exchange with Japan to the tune of 1 million US Dollars, and is being rolled out though the Ministry of Environment through collaborations with the UNDP. This project is the first of its kind in sub- Saharan Africa, and Namibia has already proven itself to be a leader in the region due to its current net zero emissions status, and for having maintained an unwavering commitment to implement its Nationally Determined Contributions ( NDCs) to achieve net- zero emissions and climate- resilient development, in response to the climate emergency.
The project officially started in March 2022 and is set to run for 12 months. It was therefore emphasized that there is a need for broad based involvement from the responsible Ministry, the private sector, academia, and the Namibian Stock Exchange ( NSX). Mr. Petrus Muteyauli, expressed on behalf of the MEFT, support for the project and its gratitude to the Japanese government for their generosity.
As part of the discussions, both UNDP Namibia and UNDP South Africa provided detailed presentations of the project in which the objectives, timeframe, expected outcomes, a summary of main activities, project risks, implementation arrangements and the overall project framework were outlined. According to the MEFT, this project is expected to benefit about one million Namibians through the Emissions Trading Scheme ( ETS).
The RDJ Group looks forward to the future of this project and is committed to keeping you abreast with the latest updates concerning the Carbon Credit Markets in Namibia.