Private sector regional carbon markets engagements 2021

The online dialogue and peer to peer exchange for regional carbon project developers was organized by Eastern Africa Alliance on Carbon Markets and Climate Finance with support from GIZ Uganda and UNFCCC RCC Kampala. Its main purpose was to strengthen eastern Africa private sector stakeholders’ knowledge on carbon markets as well as the capacity to engage in article 6 carbon markets.

The dialogue focused on knowledge of carbon markets amongst Eastern Africa’s public and private sector stakeholders in order to strengthen their capacity to proactively participate in emerging article 6 landscape including the transition from CDM to the Paris Agreement mechanisms. It was stressed that Article 6 was a crucial element of the UNFCCC negotiations at COP 26 and an entry point for private sector engagement under the Paris Agreement.

The private sector was encouraged to contribute to national implementation of the future Article 6 guidance. In other words, COP 26 will likely not be a single event that fixes everything though will offer higher level guidance upon which the operational rules need to be fleshed out a process in which the private sector can play an important role.

The private sector should be searching for provision of regulatory clarity on the market rules with the NDC context as a potential game changer, efforts to build on existing foundations for example, the hard fought and high-quality African pipeline should be recognized and leveraged on grounds for opening up new opportunities like the emerging sub-sectors such as e-mobility.

There were many sectors that had not been supported by the CDM and therefore in realizing new opportunities under Article 6, there is the need for comprehensive capacity building efforts involving the private sector.

Find the video recordings here