The House of Representatives on Thursday underscored the need for the Federal Government to ensure the implementation of Carbon Credit as part of the efforts toward mitigating the impact of Climate Change in Nigeria through the formulation of an Action Plan that is consistent with Section 20 (1, 2 and 3) of the Climate Change Act, 2021.
The resolution was passed sequel to the adoption of a motion sponsored by Hon.. Sam Onuigbo.
In his lead debate, Hon. Onuigbo observed the devastating impact of climate change in the world, particularly in Nigeria with desertification racing southward at a speed of 0.6km per annum, gully and coastal erosions destroying communities and farmlands, thus drying up Lake Chad.
“The House also notes the frequent cases of herders and farmers’ clashes with attendant deaths and flooding across several States.
“The House is aware that this 9th Assembly passed the Climate Change Bill which was assented to by President Muhammadu Buhari on November 17, 2021, Section 19(i) of the Climate Change Act stipulates that the Federal Ministry of Environment shall, in consultation with the Federal Ministry responsible for National Planning set Carbon Budget for Nigeria to keep average increases in global temperature within 2°C and pursue efforts to limit the temperature increases to 1.5°C above pre-industrial levels.
“The House is also aware that Section 4(i) and (j) mandate the National Council on Climate Change to collaborate with the Federal Inland Revenue Service to develop a mechanism for Carbon Tax in Nigeria and collaborate with the Federal Ministries responsible for Environment and Trade to develop and implement a mechanism for Carbon Emission Trading.
“The House is further aware that Section 20(4)(a) of the Climate Change Act states that “the Action Plan shall serve as a basis for identifying the activities aimed at ensuring that national emissions profile is consistent with the Carbon Budget goals.
“The House is cognizant that Legislators have responsibilities for ensuring that measures are taken to avert the devastating impacts of climate change, hence, the House strongly advocates that Nigeria implements the law on Carbon Credit (reward system) as part of the several measures that can be taken towards reducing the impacts of climate change in the country.
“The House is also cognizant that the industrial sector contributes a high percentage of greenhouse gas emissions in Nigeria, hence, the need to develop the capacity for implementing a carbon credit scheme to incentivize the decarbonization of the industrial sector in Nigeria.
“The House observes that Carbon Credit is a policy where industries are encouraged to reduce their carbon footprint to earn calculated carbon credit (per ton of carbon), while industries which exceed emission thresholds are sanctioned with fines, therefore, the carbon market is a trading platform whereby carbon credits earned by one industry can be purchased by another to make up for their pollution.
“The House also observes the Paris Agreement on Climate Change signed by Nigeria on September 22, 2016, and other international conventions, the Kyoto Protocol is one of such international conventions, adopted in 1997 which came into force in 2005 to reduce man-made greenhouse gas emissions, and Nigeria has a responsibility to implement them internally.
“The House is worried that except Nigeria takes necessary measures to reduce the impacts of climate change in the country, the Climate Change induced calamities will continue.”
To this end, the House urged Federal Government to direct the National Council on Climate Change in collaboration with the Federal Ministries responsible for Industry, Trade and Investment, Environment, and Budget and National Planning to immediately implement the Carbon Credit Scheme through the formulation of an Action Plan that is consistent with Section 20 (1) (2)(3) of the Climate Change Act, 2021.
The lawmakers also urged the Council and Federal Ministries mentioned above to present to the National Assembly, for approval the Budget derived from the processes in line with prayer 1 above, especially as the implementation of Section 19 (2)(3) of the Climate Change Act about the Carbon Credit/Action Plan is already behind schedule.
In the bid to achieve the feat, the House mandated the joint Committees on Climate Change, Environment, National Planning, Industry; Commerce and Legislative Compliance to liaise with the National Council on Climate Change and Federal Ministry of Industry, Trade and Investment to ensure compliance and report back within one week for further legislative action.
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