Carbon soon to be a commodity
January 3, 2020 6:45 am
Carbon will soon be a new commodity for the Ministry of Forests.
Permanent Secretary Pene Baleinabuli says a new five-year carbon trading plan will help reduce carbon emissions in an effort to address climate change.
Baleinabuli says the World Bank is willing to be the first to buy Fiji’s carbon.
“It’s meant to address climate change, first and foremost, but within it, there is opportunity for resource owners who grow their trees and do not log them to also make a bit of money through carbon trading. So Fiji has been in the Pacific, it is the first small island developing country to make a submission to the World Bank through and Emission’s Reduction Programme.”
Baleinabuli says with the projects yet to be finalized together with the monetary value of the carbon.
The Forestry Ministry is currently undertaking a 4 million tree campaign which includes the planting of timber, fruit and ornamental trees.