In response to a request from the Government of Côte d'Ivoire, UNDP organized a training and consultation workshop on carbon markets in March, 2023 in Abidjan. The workshop aimed to build the capacity of Ivorian actors by equipping them further to participate in carbon markets and to lay the groundwork for making strategic choices to effectively mobilize the finance needed to achieve the country's climate goals under the Paris Agreement.
Representatives from government, the private sector, civil society and international organizations participated in the three-day workshop, during which participants were trained on the basics of carbon markets, including regulated markets under Article 6 of the Paris Climate Agreement and voluntary carbon markets, as well as the potential implications for achieving Côte d'Ivoire's Nationally Determined Contributions (NDC) targets.
Workshop participants agreed on the key actions to be included in a roadmap for Côte d'Ivoire’s effective and strategic participation in carbon markets:
- establishment of an appropriate institutional and regulatory framework to facilitate access to carbon markets;
- continuous capacity building for various national stakeholders;
- development of a national strategy on carbon markets that takes into account the country's NDC commitments and all opportunities to access carbon finance.
During the week following the workshop, UNDP continued consultations with stakeholders to collect the necessary data to make an exhaustive inventory of the carbon market situation in Côte d'Ivoire. Meetings with the Prime Minister's Office, as well as the relevant sectoral ministries were held. Other bilateral meetings also took place with the private sector, civil society and international organizations.
The workshop demonstrates the determination of the Government of Côte d'Ivoire, with the support of its partners, to effectively achieve its NDC commitments and its sustainable development goals. Côte d'Ivoire is positioning itself as a country resolutely committed to the transition to a low-carbon economy.
The capacity-building workshop on carbon markets is an important step in this direction, and the newly acquired knowledge and the resulting roadmap provide a solid foundation in the government's quest to effectively access finance for NDC implementation.
UNDP’s support is part of the UN-REDD Programme’s technical assistance to the Government of Côte d'Ivoire to design results-based payment approaches, particularly through Article 6 of the Paris Agreement. This support is helping the government mobilize funding for the implementation of its Nationally Determined Contributions (NDCs) and negotiate with private project developers to create carbon credits for the voluntary carbon markets.
