CAPE TOWN: Climate change experts on Friday called on African governments to put in place carbon pricing regulation to earn taxes from greenhouse gas emissions.
El Hadji Diagne, Lead Negotiator for Climate Change Markets, said in Nairobi that carbon pricing is an opportunity that the continent could not afford to loss.
“Put regulation framework in place to allow carbon pricing as a means of bringing down emissions and drive investment into cleaner options,” Diagne said during the 10th African carbon Forum in Nairobi.
Diagne told countries to apply pricing measures, including taxation methods that are used in taxing fossil fuel to shift the burden for the damage back to those who are responsible.
He said that with the existing regional economic blocs, managing carbon pricing can be easier once the provisions are put in place.
“Regional approach is a better approach as it will help reduce unnecessary competitions amongst member countries,” he noted.
The expert observed that instead of dictating who should reduce emissions where and how, a carbon price gives an economic signal that makes polluters decide whether to discontinue their polluting activity, reduce emissions, or continue polluting and pay for it.
“You will easily achieve the environmental goal in a most flexible and least-cost way to society,” he added.
He told delegates that they have a better option putting legal framework in place as carbon price also stimulates clean technology and market innovation, fueling new, low-carbon drivers of economic growth.
