GANTA, NIMBA COUNTY – The Environmental Protection Agency (EPA) of Liberia and its partners have kicked off a two-day National Carbon Market Policy Dialogue in Ganta, Nimba County, to develop a comprehensive policy and legal framework for Liberia’s carbon resources. The initiative aims to leverage the country’s vast forest assets to combat climate change and generate wealth for national development.
By Francis G. Boayue
In his opening remarks, EPA Executive Director Dr. Emmanuel K. Urey Yarkpawolo declared the dialogue a critical step towards realizing President Joseph Nyuma Boakai’s Agenda for Inclusive Development.
“We cannot own the largest share of the Upper Guinea Forest and live in poverty,” Dr. Yarkpawolo stated, emphasizing the urgent need to translate Liberia’s natural capital into financial capital. “This national dialogue is giving us a sense of ownership and leadership in deciding our destiny.”
The dialogue, which brings together ministers, legislators, civil society representatives, and community leaders, is designed to build national consensus on four key issues identified during earlier public consultations
They include addressing key issues that center on the ownership of carbon – defining who owns carbon resources and ensuring Liberians have a deeper understanding of the carbon market; benefit Sharing: stablishing a fair and equitable system for distributing revenue generated from carbon trading. and market model: deciding whether Liberia should adopt a compliance or voluntary carbon market mechanism, or a combination of both.
The gathering also centered on institutional arrangements: creating a transparent and accountable institution to manage the carbon market and report data to the United Nations Framework Convention on Climate Change (UNFCCC).
Dr. Yarkpawolo explained that the carbon market, a mechanism under the Paris Agreement, provides incentives for countries that reduce greenhouse gas emissions. He stressed that strong policies and laws are essential to ensure the market operates transparently and fairly.
He confirmed that a team of Liberian consultants, led by Cllr. Urias S. Goll, has drafted a Liberia Carbon Market Policy with technical support from the U.S.-based Coalition for Rainforest Nations (CfRN). The draft has undergone multiple reviews and public consultations in seven counties to ensure the voices of the Liberian people are heard.
The EPA Director also highlighted the need for more innovative financial solutions, including blended financing and green bonds, to strengthen Liberia’s economic architecture.
The ultimate goal of the dialogue is to finalize the policy for presentation at the UN Climate Change Conference (COP30) in Belém, Brazil, in November. This, according to Dr. Yarkpawolo, will send a clear message that “Liberia is ready, open, and committed to engaging in carbon trading transparently and sustainably.”
The EPA thanked its partners, including the Government of Canada through Novasphere, UNDP, Heritage Partners and Associates, Fauna and Flora, the European Union, the United Kingdom, and WeltHungerHilfe, for their invaluable technical and financial support.
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