EAC WANTS QUICKENED PROCESS FOR CLIMATE CHANGE FUND

The East African Community (EAC) wants a regional accredited entity for the proposed Green Climate Fund.

The secretariat has been directed to mobilize resources for the purpose through multilateral implementing entities.

The call was made in Arusha last week at the end of the meeting of the Sectoral Council on Environment and Natural Resources Management.

The Council took note of the progress made in the accreditation of the secretariat as an implementation entity for the Adaptation Fund.

Adaptation financing to stem climate change was one of the demands by African countries during the World Climate Summit in Glasgow last year.

The Green Climate Fund was proposed by 194 governments to limit or reduce greenhouse gas emissions in developing countries,like those in Africa.

Mobilization of financial resources, the meeting resolved, should be made, pending the completion of the accreditation process. 

The Arusha-based secretariat was also directed to expedite the establishment of the EAC carbon credit exchange mechanism. 

The seven partner states in the bloc, on the other hand,were urged to build capacity on carbon markets mechanisms. 

The secretariat was also tasked to mobilize resources to boost the region's transboundary natural capital.

Harnessing nature-based solutions would not only enhance effective measures to tame the climate change impacts.

The meeting at the EAC seat here, agreed that the EAC Environment Week be held annually on rotation basis across countries.