Vice President Yemi Osinbajo, SAN, has said that participating in the carbon market would not only offer Nigeria and Africa the opportunity for growth, industrialization and job creation for its teeming population, but would also provide the right incentives for clean energy and climate action.
According to him, the Carbon Market pipeline could create 30 million jobs in the next decade, with the potential to create more than 100 million jobs through climate aligned projects by 2050.
The Vice President stated this yesterday in his keynote address at a high-level international meeting on Africa Carbon Market Initiative (ACMI) hosted by the Rockefeller Foundation in New York City, USA., where he stressed the importance of building the carbon markets architecture in Africa.
Speaking to an audience, which includes the US Special Presidential Envoy for Climate, John Kerry, who joined the meeting virtually, Vice President Osinbajo stated that “participating in the carbon market offers Africa the opportunity to pursue growth, industrialization, economic value creation, with the right incentives for clean energy and climate action.”
The meeting explored potential opportunities which carbon markets offer to generate resources for clean energy transitions while accelerating economic growth in Nigeria and other African countries.
It would be recalled that an International Steering Committee is driving the activation of African Carbon Markets in Africa, under the auspices of the African Carbon Market Initiative.
Credit: channelstv.com
