Acting EPA ED Targets Development Finance -To Reduce Emissions in Liberia By 64% by 2030

MONROVIA: The Acting Executive Director of the Environmental Protection Agency(EPA), Dr. Emmanuel K. Urey Yarkpawolo told a High-Level Retreat for policymakers retreat that the agency under his leadership aims at accessing development finance to fulfill President Joseph Nyumah Boakai’s ARREST agenda, and at the same time to reduce emission in the future, emphasizing the importance of Liberia’s  goal to access transformational development finance from both bilateral and multilateral funding sources, as well as significantly increasing both climate adaptation and mitigation finance.

As The Analyst’s Anthony Q. Jiffan, Jr. reports, the acting director of the EPA was speaking at a High-Level Retreat of Policymakers on the Potential and Opportunities for Carbon Investment in Liberia recently in Margibi County,

Dr. Yarkpawolo disclosed that Liberia has made significant advances in the fight against climate change by producing many climate change reports on policies, greenhouse gases, adaptation, mitigation, technology needs assessment, and investment. Mentioning that Liberia aims to reduce its emissions by 64% by 2030 below the Business-as-Usual levels, which, he noted, is an ambitious target.

He indicated that Liberia’s Revised Nationally Determined Contributions (NDCs) cover nine key sectors, including Agriculture, Coastal Zone, Fisheries, Forestry, Energy, Health, Waste, Industries, and Transport.

Despite its relatively low contribution to climate change, he said Liberia remains vulnerable to the impacts of climate change due to its geographical, socioeconomic, and climate profiles.

He averred that these impacts affect crucial economic sectors and the livelihoods of the population, disclosing that the country is endowed with abundance of natural resource the including possession of over 40% of West Africa’s rainforest, serving as habitats to many species that are critical to the fight against climate change.

The EPA boss further said despite this, Liberia has not been able to benefit from international climate financing adequately, but termed it as good news for the country.

Dr. Yarkpawolo however acknowledged the country’s commitment to realizing its NDCs as a signatory to the Paris Agreement, but noted the country needs predictable and adequate financing.

He stated that Liberia’s readiness to engage in activities to access carbon markets to mobilize finance from our forests will increase the country’s domestic revenue generation.

The EPA boss also highlighted the daunting challenges and threats that Liberia faces concerning its forest resources, which threats he said come in the form of deforestation and the heavy reliance of local communities on natural forests for their livelihoods.

Liberian farmers, mostly He added that these issues cause significant harm to the integrity of our ecosystems and the provision of essential ecosystem services.

The EPA boss however indicated that efforts to mitigate these threats are hindered by the lack of alternative livelihood opportunities and economic incentives for forest communities.

Meanwhile, the EPA Boss has assured that financing to achieve the targets in the NDCs may come in part from carbon market mechanisms, and Liberia as per its NDCs wishes to consider the inclusion of international carbon market mechanisms, including cooperative approaches under Article 6 of the Paris Agreement, to help sustainably finance low-carbon investments.

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