PNG Lacks Mechanisms to regulate Carbon Trade Projects

Papua New Guinea is currently unable to effectively regulate the influx of carbon trade projects in the provinces.

Climate Change and Development Authority’s Measurement Reporting and Verification (MRV) and National Communication (NC) Division's Acting General Manager Debra Sungi, say the country lacks the regulatory mechanisms to regulate these projects.

Ms. Sungi said CCDA is tasked to address the authorization approval, by way of the development of the regulations. 

At this stage, CCDA has completed one on one consultations with key agencies within the sectors of Agriculture, Forestry and Other Land-Use (AFOLU) and Energy sector. 

A validation workshop was hosted today by the CCDA to gain stakeholders' support and views on the draft PNG Carbon Markets (Management) (Carbon Market) Regulation 2022 and to improve the draft regulation going forward.

MS Sungi says the draft Climate Change (Management) Carbon Market Regulations 2022 is expected to be formalized and endorsed before the year-end, with implementation expected next year.

NBC News / PNG Today

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