The recent climate change conference held in Bonn from June 5 to 15, 2023, provided a significant platform for global discussions on pressing environmental issues. The West African Alliance on Carbon Markets and Climate Finance actively participated in the conference, building on the mandates established during COP 27 in Egypt. With a strong focus on Article 6 of the Paris Agreement, the Alliance engaged in fruitful bilateral meetings with various partners and countries to further its mission. Let’s delve into the Alliance’s remarkable participation and its potential for driving sustainable change in the region.
Collaboration with UAE Independent Climate Change Accelerators:
During SB58, the UNFCCC secretariat facilitated a productive collaboration between the West African Alliance and the UAE Independent Climate Change Accelerators (UICCA). The two institutions met to exchange views and explore opportunities for joint initiatives. This partnership holds promise for fostering innovative climate finance mechanisms and carbon market development in the region, while leveraging the UAE’s expertise in sustainable practices.
Bilateral Meeting with Ghana: Advancing Article 6 Implementation:
The West African Alliance was thrilled to engage in a bilateral meeting with Ghana to discuss the implementation of Article 6 of the UNFCCC. The Alliance commended Ghana’s progress in developing a concept paperand enhancing private sector involvement in Nationally Determined Contributions (NDCs) implementation, particularly through Article 6 market activities. This development aligns perfectly with the Alliance’s goals of empowering indigenous project developers and facilitating private sector participation in Article 6 initiatives within the sub-region.
Promising Outlook with Nigeria:
A pivotal moment occurred at SB58 when the West African Alliance conducted a bilateral meeting with the Nigerian delegation. This meeting provided an opportunity to understand Nigeria’s priorities and formulate strategies for supporting the implementation of Article 6. The Nigerian National Council on Climate Change expressed appreciation for the Alliance’s proactive actions in addressing climate change in Nigeria. This collaboration aims to position Nigeria and other member countries at the forefront of the carbon market, drawing valuable lessons from past experiences like the Clean Development Mechanism (CDM).
Shared Commitment and Vision:
The Alliance remains steadfast in its commitment to collaboration and cooperation with its partners. Salisu M. Dahiru, the Director General of the National Council on Climate Change, reiterated Nigeria’s strong commitment to work closely with the Alliance, expressing his confidence in exceeding expectations. The Alliance Coordinator, Ousmane Fall SARR, emphasized the collective effort to position Nigeria and member countries as leaders in the carbon market, drawing on the lessons learned from previous carbon credit mechanisms.
The West African Alliance on Carbon Markets and Climate Finance made a notable impact at SB58 in Bonn, leveraging its expertise and collaborative spirit to drive meaningful change. Through bilateral meetings, the Alliance engaged with Ghana and Nigeria, fostering a deeper understanding of their priorities and offering support in implementing Article 6. As the Alliance continues to forge partnerships and champion sustainable initiatives, it envisions a future where West African countries play a pivotal role in shaping global climate action and realizing a low-carbon economy.
A step towards the organisation of the first West African Conference on Carbon Markets
An important event aimed at encouraging private sector involvement in carbon markets in West Africa was a highlight of SB58, which took place in Bonn with the alliance’s various partners. Under the theme “Scaling up Public and Private Capacity to Deliver the Goals of the Paris Agreement,” this gathering will address the challenges and opportunities for carbon markets in the region, while focusing on knowledge sharing, feedback, and collaboration.
Scheduled to take place from September 26 to 28, 2023, in Abidjan, Cote d’Ivoire, the event will serve as a platform for stakeholders to delve into the operationalization of Article 6 of the Paris Agreement and the current state of negotiations. Participants will have the opportunity to gain insights into the requirements and opportunities of Article 6 operationalization and discuss the general carbon market landscape in West Africa. The workshop is hosted by International Emissions Trading Association (IETA) – B-PMI West African Alliance on Carbon Markets and Climate Finance