Liberian policymakers are close to finalizing a framework designed to enable the sale of carbon credits to international markets. This development, however, has drawn criticism from local environmental groups who claim they are being excluded from the policy’s rapid final review.
Jeanine Cooper, the chief executive officer of Liberia’s Carbon Market Authority, stated last week that the “penultimate” draft of the policy was nearing its completion.
The policy aims to establish Liberia’s participation in the international carbon credit market, potentially generating revenue while also contributing to global climate goals. The framework is intended to define the rules and processes for developing and selling these credits.
Environmental organizations have raised concerns that their input, crucial for ensuring the integrity and effectiveness of such a market, is not being adequately incorporated. They argue that a more inclusive review process is necessary to safeguard local environmental interests and ensure equitable benefit sharing.
The development reflects a broader global trend as countries seek to leverage carbon markets for both environmental and economic benefits. However, the pushback in Liberia highlights the challenges in balancing international market ambitions with local stakeholder engagement and environmental protection.
Source: Mongabay