Nigeria’s Vice President, Prof Yemi Osinbajo has said that the African Carbon Market Initiative (ACMI) Steering Committee aims to get $1 billion in total commitments from purchasers before COP28, which will take place later this year.
According to a statement signed by the Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Laolu Akande, Osinabjo stated this while hosting a group from the Rocky Mountain Institute, a US-based organization that has spent the previous 40 years studying the issue of the energy transition.
Econaiplus had earlier reported that Osinbajo said that the Federal Government was working on issues of climate finance and specific initiatives that will progress Nigeria’s goal of attaining Net-Zero by 2060 and looking into the potential of electric vehicles in the nation.
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Speaking of the Federal Government’s objectives in pursuing a just energy transition agenda, he noted that among other things, the government was looking for adequate climate finance, particularly through the African Carbon Market Initiative (ACMI).
The statement added that Osinbajo had earlier in the day virtually participated in a progress meeting of the international African Carbon Market Initiative Steering Committee where the progress of the plans on broadening the market in Nigeria and Africa was reviewed.
Story was adapted from NatureNews.
