Reps ask FG to implement carbon credit scheme to mitigate climate change

The house of representatives has asked the federal government to “immediately” implement the carbon credit scheme to mitigate the impact of climate change in the country.

The green chamber passed the resolution during the plenary session on Thursday following the adoption of a motion of urgent public importance sponsored by Sam Onuigbo, a lawmaker from Abia state.

The carbon credit scheme is a policy where industries are encouraged to reduce their carbon footprint to earn calculated carbon credit (per ton of carbon), while enterprises that exceed emission thresholds are sanctioned with fines.

The carbon market is a trading platform whereby carbon credits earned by one industry can be purchased by another to make up for their pollution.

Leading the debate on the motion, Onuigbo said the devastating impact of climate change has taken a toll on the country with desertification “racing southward at a speed of 0.6km per annum” and gully and coastal erosions destroying communities and farmlands, thus drying up Lake Chad.

The lawmaker said section 19(i) of the climate change act 2021 stipulates that the ministry of environment shall, in consultation with the relevant ministry, set a carbon budget for Nigeria to keep average increases in global temperature within 2°C and pursue efforts to limit it to 1.5°C above pre-industrial levels.

The legislator cited sections 4(i) and (j) which he said, mandate the national council on climate change to collaborate with the Federal Inland Revenue Service (FIRS) to develop a mechanism for a carbon tax in Nigeria and collaborate with the environment ministry to develop and implement a mechanism for carbon emission trading.

He argued that the industrial sector contributes “a high percentage of greenhouse gas emissions” in Nigeria, hence the need to develop the capacity to implement a carbon credit scheme to incentivise the decarbonisation of the sector.

“The Paris agreement on climate change signed by Nigeria on September 22, 2016, and other international conventions, including the Kyoto protocol is one of such international conventions adopted in 1997 which came into force in 2005 to reduce man-made greenhouse gas emissions, and Nigeria has a responsibility to implement them internally,” he said.

The lawmaker said if Nigeria did not take the necessary measures to reduce the impacts of climate change in the country, the “induced calamities” will continue.

The motion was adopted when it was subjected to a voice vote by the presiding officer.

After the adoption, the lawmakers asked the federal government to direct the relevant agencies and ministries to “immediately” implement the carbon credit scheme formulating an action plan consistent with the provisions of the climate change act 2022.

The house also mandated the committees on climate change, environment, national planning, industry, commerce and legislative compliance to ensure compliance and report back within one week.