The opening salvo of the Climate Resilient Green Economy (CRGE) vision states, “Uncertainty about the exact nature of
future climate change must not be interpreted as uncertainty in the need to act
now to minimize future damage”. It is based on Article 44 of the Ethiopian Constitution that underpins
the fact that the Ethiopian people have
a fundamental right to an environment, adequate for health and well being.
Hence, Ethiopia has launched an explicit plan that ranges its remit from
federal to community level to identify and act upon climate change challenges
through policies, strategies, structures and participatory processes. Ethiopia is planning to develop
the green economy strategy based on improving crop and livestock production
practices, while reducing emissions; protecting
and re-establishing forests for their economic and ecosystem services;
expanding electric power generation from renewable sources of energy five-fold
and leapfrogging to energy-efficient technologies in transport, industry and
buildings.
On
March 19, 2011 the Verified Carbon Standard Association (VCSA), based in
Washington, D.C. formally approved a method of forest management. This
methodology, now formally known as VM0011, provided a United Nation’s approved
way for REDD+ to calculate the carbon emission reductions that result from the
creation of carbon credits, in the form of Verified Carbon Units (VCUs),
derived from international forest conservation projects and that provide a
direct economic incentive for landowners (Governments) to preserve forests.
The dramatic
growth of the Carbon Credit market to date, according to World Bank figures,
shows that the global trading market is now worth a phenomenal US $144 billion.
EPI, through its management and guarantee program, has
the ability to swap Ethiopia’s carbon credits for investment capital and
collateral guarantees. The investment capital may be utilized by the Ethiopian
sovereign state as the state sees fit. EPI has the capability to utilize its
carbon credit asset values that you either own or control. Over a ten-year span,
EPI could assist Ethiopia to triple these values for sovereign state investment
improvements.
See lecture here
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