Findings of a study on the scope and potentials of carbon offset in the Niger Delta region commissioned by the European union has revealed vast potentials in carbon offsets with capacity to resolve climate issues and also address insecurity.
A University Don, Professor Ogheneruona Diemuodeke while presenting report of the study to Stakeholders and Policy makers In Port Harcourt, Rivers State called for proper regulatory framework to attract needed investments in carbon markets in the region.
Carbon offsetting is a process that involves a reduction or removal of carbon dioxide or other greenhouse gas emissions from the atmosphere in order to compensate for emissions made elsewhere.
The Nigerian Government has established several climate, energy and carbon market policies which support carbon offset mechanisms.
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However weak implementation has continued to hinder carbon market growth especially at sub-regional levels.
This Study on Carbon Offset in the Niger Delta region commissioned by the European Union and her partners aims to identify needed regulatory framework for carbon offsets and credits and get the buy-in of stakeholders as the global call to reduce carbon emissions from the atmosphere intensifies.
If well harnessed, Carbon offsets in the Niger Delta region according to experts will address challenges of climate change and also create wealth for communities in the region.
(Editor: Anoyoyo Ogiagboviogie)
