The government has unveiled an interim plan to fast-track the transfer and trading of emission reduction units under its Carbon Trade Agreement.

Minister for Fisheries and Forestry Alitia Bainivalu said the move was critical as Part 10 of the Climate Change Act of 2021 which provides the full legal framework is not yet in force.

In her ministerial statement in Parliament this morning, Bainivalu explained the 2021 Emission Reduction Program Agreement with the Forest Carbon Partnership Facility requires Fiji to deliver 2.5 million emission reduction units.

In return, the government is set to receive $28.4 million.

The first assessment shows 922,828 units are ready for transfer, expected to generate $10.48 million.

Minister for Fisheries and Forestry Alitia Bainivalu [Source: Parliament of the Republic of Fiji/Facebook]

To bypass the current legal gap, Bainivalu states the government has devised an alternative pathway using existing laws.

Land lease agreements and deeds of assignment will secure landowners’ rights while allowing the government to trade units with the carbon fund.

She stressed that Fiji’s sovereignty will remain fully protected.

For leased land, lease variations will include clauses enabling participation in the emission reduction program and the transfer of units to the government.

Vacant land will be issued new leases with the same conditions.

All agreements will be registered with the Office of the Register of Titles.

Bainivalu said the government would strictly follow community consultation and customary protocols with landowners.

The interim pathway is expected to allow Fiji to execute its first transfer and trade of units before the end of the year.

The Minister added the carbon fund may consider extending the agreement but only if Fiji demonstrates a strong and consolidated effort in transferring units.

She adds that landowners will receive a fair share of carbon payments in addition to mandatory land rentals.

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