Secretariat established to drive carbon trading programme

ENVIRONMENT, Conservation and Climate Change Minister Wera Mori says Cabinet has approved the establishment of a secretariat to drive the Government’s carbon trading programme to monetise the country’s rainforests.
Responding to questions from Kairuku-Hiri MP Peter Isoaimo in Parliament on Thursday, Mori said the secretariat would engage with potential partners and line departments as well as develop a formula for carbon trade revenue would be disbursed.
He said on the back of Prime Minister James Marape’s speech during the 76th UN Climate Conference in Glasgow, Scotland, last year where he said industrialised nations needed to pay PNG to preserve its rainforest, a national framework was being developed.
“The industrialised world are now putting funds together to help countries mitigate the impact of climate change,” Mori said.
“What is of relevance to Papua New Guinea is the question of how we can monitise our biodiversity? This is the crux of the matter.
“Under the framework, and the industrial world must pay PNG for us to preserve our rainforests.
“This is the national framework we are developing. Cabinet has approved the setup of a secretariat.
“For is to drive the national framework, we will need the assistance of those global entities on how they would come in to participate in this programme so we can bring money into the country.
“The framework will enable the state to have the upper hand and visibility. We are in the process of setting up the secretariat who will have discussions with other line agencies like Forestry, National Planning, Finance and etc.”