In line with the fight against climate change, Fonaredd, in partnership with the Ministry of Environment, held a stakeholder consultation workshop on the operationalization of the carbon market in the Democratic Republic of Congo (DRC) on March 26th at Cercle Elaïs.
This event addressed the issues, progress, challenges, and ongoing initiatives to support the carbon market.
During his speech, the Executive Secretary of Fonaredd, Mr. Bavon N’sa Mputu, emphasized the importance of international and national resources to support climate change actions. He also highlighted the major challenges that lie ahead for this ambitious project, including the need to establish a strong legal and regulatory framework, a robust emission monitoring system, an effective negotiation platform, a centralized quota registry, and a system for monitoring and evaluating market performance.
Mr. Bavon N’sa Mputu presented the three financing windows of the stop fund, which include the development of investable capacities, payment for agro-forestry services, and financing for projects generating carbon credits. He also revealed that this program aims to strengthen governance for effective participation of the DRC in the international carbon market, as well as to improve infrastructure and mobilize carbon finance in international markets.
Bavon N’sa Mputu called for the coordination of efforts and harmonization of approaches for the development of the national carbon market. He encouraged all participants to support this crucial initiative in the fight against climate change in the DRC.
The Minister of State, Minister of Environment, Eve Bazaïba, highlighted the evolution of the carbon market resulting from the issue of climate change. In terms of perspectives, she mentioned the launch of the carbon tax, which will affect key emitters such as industrial, mining, oil, and transportation companies, following an inclusive process of educational and informative consultations with stakeholders.
By Franck zongwe Lukama