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Tuesday, 04 August 2015

New EAC Bill to mitigate climate change

At the East African Carbon Fair in Kampala, EAC Deputy Secretary General in charge of Production and Social Sector,  Jessica Eriyo said that the absence of strong regulations geared at climate management means the region will continuously be faced with climate challenges such as flooding and prolonged droughts. The Secretary general  told participants that  once the law is in place member states will be able to  allocate resources for climate management and implement  international mitigation strategies such as the Clean Development Mechanism( CDM) under the Kyoto protocol. The CDM is a market based approach that enables generation and trade of certified emission reductions units on a global scale.  EAC has developed a series of guiding principles on climate change, such as the EAC Climate Change Policy and the East African Climate Change Master Plan. However, there are several challenges related to inadequate information, inadequate financial resources and poor technical advances, as well as a lack of harmonized Climate Change Regulation. For Bill Farmer, the Chairman of Uganda carbon Bureau, “the private sector has not exploited the business opportunity which lies within the CDM approach. It is time to start up projects that can attract funding from CDM.”  The fair was organized by Germany’s GIZ in partnership with the United Nations Frame work convention on climate change.

Source: busiweek.com