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| 28/07/08 - Fiji to take advantage of carbon trading opportunities |
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Cabinet has approved the formation of a Technical Team to advise and work closely with the Director of Environment in putting together projects for carbon credit trading, both in the Voluntary and Compulsory Carbon trading markets.
The Team will be chaired by the Permanent Secretary responsible for Environment, and comprise the Director of Environment, independent consultants and representatives of key agencies such as Departments of Energy/FEA, Fisheries, Forests and Agriculture.
Cabinet based its decision on a submission by the Minister for Labour, Industrial Relations, Employment, Local Government, Urban Development, Housing and Environment, MR Lekh Ram Vayeshnoi.
Mr Vayeshnoi said that Fiji is a signatory to the United Nations Framework Convention on Climate Change (UNFCCC).
“Fiji has also ratified the the Kyoto Protocol (KP) under the UNFCCC which aims to engage Developed Countries to reduce emissions of Greenhouse Gases (GHGs) to 5% below the 1990 levels, by 2012.”
Mr Vayeshnoi said that while Fiji has been undertaking national climate change activities with regard to its commitments under the UNFCCC, it has yet to fully integrate the implementation and the facilitation of the Clean Development Mechanism (CDM).
“The Technical Team will be established to ‘kick start’ the process of implementing a carbon trading system for Fiji.”
He said that the Team will identify potential projects to be approved by Cabinet for carbon trading purposes, and inform Cabinet accordingly.
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