Kenyan Environmentalist, Mr. Kevin Juma has highlighted the system of carbon credit as a critical strategy for Africa to reach its net zero emissions goal.
Mr. Juma, who happens to be the Africa Climate Director, The Nature Conservancy, Nairobi, Kenya, elucidated on this system while delivering his lecture at the 22nd edition of Chief S.L Edu Memorial Lecture on Tuesday, May 28th, in Victoria Island, Lagos.
The free hybrid event, hosted by the Nigerian Conservation Foundation (NCF), is a flagship advocacy which takes a critical look at burning conservation issues.
Discussing the theme “Carbon Credits: Opportunities and Pitfalls,” Mr. Juma explained that we could reduce carbon emissions by planting more trees, which can attract financial rewards under various carbon credit programs.
The United Nations Net Zero Coalition says that to keep global warming below 1.5°C; the world must cut emissions by 45% by 2030 and reach net zero by 2050.
However, Mr. Juma said African nations have to focus on nature-based solutions for emission removal instead of technological innovations for its reduction because the latter could take us many more years to achieve.
“Nature plays a big part in fighting climate change, not just by reducing carbon, but also by protecting different plants and animals and helping to lift people out of poverty.
“Net zero commitments cover most of humanity, but progress falls far short. The role of Carbon Markets in net zero is under debate. Carbon markets are expected to help companies and governments “catch up” on net zero. They are to address “residual emissions” for the long term and to help fix global overshoot,” Mr. Juma explained.
The Climate Director didn’t hesitate to explain that Carbon Markets 2.0 must be intentionally aligned with global climate, biodiversity, and poverty reduction goals.
“The alignment of carbon markets with broader global objectives is crucial for ensuring effective and sustainable climate action,” he said.
He identified issues such as lack of affordable financing for projects, few high-quality and bankable projects available for financing, as well as regulatory challenges across countries as some of the challenges that may prevent carbon credit from working in some parts of Africa.
In her address, the NCF chairman, Hon. Justice (Mrs) R.I.B Adebiyi, tasked the attendees to plant a minimum of six trees within the next year, learn something new about climate change, and engage in recycling their wastes.
The eco-centric gathering drew to a close with an awards ceremony honouring the winners of the 2024 Chief S. L. Edu Research Grant. This grant, sponsored by Chevron Nigeria Limited and worth millions of naira, helps Nigerian citizens conduct research in areas like nature conservation and sustainable living. The grant supports recipients for three years as they pursue a PhD degree.
Among this year’s winners are Mr. Wahab Salau from Ogun State University and Egbe Alexander Echeng from the University of Calabar.
Present at the event were The Director General of NCF, Dr. Joseph Onoja, members of the diplomatic corps, traditional rulers, academia, researchers, top government representatives, environmental and sustainability stakeholders, and students from various schools in Lagos.
