TARABA, FIRMS SIGN FOREST CARBON PROJECT CONTRACT
AS part of a nationwide campaign to reduce emissions, deforestation and forest degradation, Taraba State Government and two indigenous firms have signed a forests carbon project contract to increase the state's Internally Generated Revenue (IGR) through earnings from Carbon Emissions Reduction (CERs).
The agreement with UNISPACE Nigeria Limited and Global Oxygen Development comes sequel to an agreement signed between the Federal Government last year, which is part of nationwide forests carbon projects, which will be of immense benefit to the government and people of Taraba State.
'Taraba is signing the first agreement with Global Oxygen Development Corporation and UNISPACE Limited under the Federal Government's nationwide forests carbon projects. I want to appreciate and thank Global Oxygen Development Corporation and UNISPACE Limited for giving Taraba State this special opportunity at a time when the United Nations is encouraging developing countries to take advantage of Clean Development Mechanism (CDM) and the carbon credit concept,' according to the Taraba State Governor, Danbaba Danfulani Suntai.
The Managing Director and Chief Executive of UNISPACE/Global Oxygen Development Corporation, Mrs. Oluremi Adiukwu Bakare, the contract would go a long way to reduce emissions from deforestation and forest degradation in the state.
'We in the private sector will source for fund for all projects under this contract agreement. The projects are at zero cost to the host communities.'
The signing of the MoU, which took place at the executive chamber of the government house located in Jalingo, the state capital is the first state in Nigeria to take the giant stride in its Climate Change programme by this agreement with Global Oxygen Development Corporation New York, represented by UNISPACE Limited Nigeria.
The project, according to her, 'is geared towards the promotion of sustainable community development through Afforestration Reforestration Revegetation (ARR).
She added that it would as well help in 'Reducing Emissions from Deforestation and (forest) Degradation (REDD) under the United Nations Framework Convention on Climate Change (UNFCC).
With the signing of the agreement, she opined that the state 'has taken a step in the right direction towards the development and implementation of Reducing Emissions from Deforestation and (Forest) Degradation (REDD) project,' adding that the project will help 'mitigate global climate change, protect the environment and ecosystem values of forest and generate economic benefits for local communities'
In her word, the 'forest carbon project will enhance the governor's Community Based Developmental Programmes and increase the state internally generated revenue (IGR) through earning from Carbon Emissions Reduction (CERs).