Carbon markets agency to boost climate change war

The market for green logistics, while still nascent, is expanding quickly.  

In the words of Barack Obama, the 44th President of the US, no challenge poses a greater threat to future generations than climate change.

The 1992 United Nations Framework Convention on Climate Change (UNFCCC) sets out the basic legal framework and principles for international climate change co-operation with the aim of stabilising atmospheric concentrations of greenhouse gases (GHGs).

This is to avoid dangerous anthropogenic interference with the climate system.

To boost the effectiveness of the UNFCCC, the Kyoto Protocol was adopted in December 1997. It committed industrialised countries and countries in transition to a market economy to achieve quantified emissions reduction targets for a basket of six GHGs.

In December 2015, parties adopted the Paris Agreement which requires all parties to determine, plan, and regularly report on the nationally determined contribution (NDC) that it undertakes to mitigate climate change.

Key component

By 2020 the UNFCCC had 197 states parties. Its supreme decision-making body, the Conference of the Parties (COP), meets annually.

But what are the good tidings? A key supervisory body established under the Paris Agreement is ready to kick off its work to help unleash the potential of carbon markets in the fight against climate change.

The decision on Article 6 of the Paris Agreement was the final outstanding component of its implementation rulebook to be adopted at COP26 at the UN Climate Change Conference Glasgow last November.

All nominations of the members of the Supervisory Body that oversees the mechanism established by Article 6 have been communicated to the UNFCCC secretariat.

The Article 6 decision helps move the world closer towards the Paris Agreement goal of holding the global average temperature rise to as close as possible to 1.5 degrees Celsius.

This can happen through enabling cooperation among governments in the implementation of their national climate action plans otherwise known as Nationally Determined Contributions to allow for higher ambition in their mitigation and their adaptation actions and to promote sustainable development.

Renewable energy

Something to be proud of is that Kenya already has in place a National Climate Change Action Plan (NCCAP).

The NCCAP 2018-2022 aims to further Kenya’s development goals by providing mechanisms and measures that achieve low carbon climate-resilient development.

The action plan sets out actions to implement the Climate Change Act 2016, and provides a framework for Kenya to deliver on its Nationally Determined Contribution to the Paris Agreement.

Speaking to energy sector, priority Number 7 encourages electricity supply based on renewable energy that is resilient to climate change, promotes energy efficiency and climate proofs energy infrastructure.

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