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Gov’t Launches Carbon Market Regulations

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Gov’t Launches Carbon Market Regulations

by Mulengera News
1 year ago
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Gov’t Launches Carbon Market Regulations
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By Mulengera Reporters

The Government of Uganda, through the Ministry of Water and Environment, has launched Uganda’s National Climate Change Mechanisms Regulation at the Ministry’s headquarters in Luzira, Kampala.

These regulations mark a critical step forward in the implementation of the Paris Agreement, particularly Article 6, which enables countries to cooperate on emissions reductions through international carbon markets.

The high-level event was graced by Development Partners, including the UNDP, United Nations Framework Convention on Climate Change (UNFCCC), Global Green Growth Institute, Environment and CC Development Partners Group, East African Development Bank, Worldwide Fund, ACODE, MDA officials, among others.

Speaking at the event, the Minister of State for Water, Hon. Aisha Ssekindi reaffirmed the government’s commitment towards accelerated climate action and sustainable development.

“The NRM Government has committed to deal with effects of climate variability and change. The Regulations are anchored in the principles of environmental integrity and sustainable development, ensuring that all carbon credit activities are aligned with Uganda’s climate commitments and international best practices,” the minister said on Thursday.

She added: “Participation in carbon markets presents a valuable opportunity for Uganda to mobilize climate finance through the sale of carbon credits.”

Uganda, a signatory to the United Nations Framework Convention on Climate Change (UNFCCC) since 1993, continues to position itself as a regional leader in climate action.

David Okurut, who represented the Permanent Secretary of the Ministry of Water and Environment, also reiterated how this milestone enhances mitigation outcomes and promotes environmental stewardship and resilience.

“For the Country to effectively participate in carbon markets, the Paris Agreement highlights key requirements to be put in place, including, among others, the National greenhouse gas inventory, an updated Nationally Determined Contribution, and the carbon regulatory framework and institutional arrangements,” he said.

He added: “I am privileged to highlight that Uganda has in place an updated Nationally Determined Contribution, a functional National greenhouse gas inventory, a National Designated Authority (Ministry of Water and Environment), the National Climate Change Act (2021), and the Carbon Regulations we are launching.”

Speaking about the ministry’s optimism to further expand the country’s carbon project portfolio, the Commissioner Climate Change, Margaret Athieno Mwebesa, highlighted the processes being undertaken.

“We aim to ensure that all relevant actors both state and non-state are well informed, and equipped to engage with the Climate Change Mechanisms in a transparent, inclusive, and accountable manner,” she said.

The Background: Uganda’s experience in carbon markets dates back to the Kyoto Protocol regime, where Uganda emerged as one of the carbon market frontrunners in Africa with an estimated greenhouse gas emissions reduction of 8.9 million tons of carbon dioxide equivalent from Clean Development Mechanism projects implemented in the Country from sectors such as Energy, Forestry and Waste management.

The Paris Agreement of 2015 expanded the global ambition on climate action and introduced Article 6, which facilitates international cooperation among countries through market and non-market approaches.

For the Country to effectively participate in carbon markets, the Paris Agreement highlights key requirements to be put in place, including, among others, the National greenhouse gas inventory, an updated nationally determined contribution, and the carbon regulatory framework and institutional arrangements.

The Ministry of Water and Environment is in the process of developing a national digital carbon registry to support effective tracking, reporting, and oversight of carbon transactions. For now, the Ministry has requested the UNFCCC to accommodate the country in the International Carbon Registry. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).

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