Liberia Nears Final Approval of Carbon Credit Sales Framework
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Liberia is finalizing a national policy to sell carbon credits internationally, with a 'penultimate' draft completed last week. The framework, managed by the newly established Carbon Market Authority (CMA), outlines how revenue will be shared, with communities receiving up to half. CMA CEO Jeanine Cooper expects the final policy to be ready for President Joseph Boakai's signature soon.
Facts First
- A final carbon credit sales policy is expected soon for President Joseph Boakai to sign.
- The Carbon Market Authority (CMA) will manage sales of Liberian carbon credits to international buyers.
- Communities will receive up to 50% of revenue from credits tied to their forests and land.
- The policy will establish a national registry for approved carbon projects.
- The CMA was created last year by an executive order from President Boakai.
What Happened
Liberian policymakers have nearly completed a framework for selling carbon credits internationally, with a 'penultimate' draft finished last week. The policy details how the country will establish a registry for approved carbon projects and allocate revenue from them. The Carbon Market Authority (CMA), established by President Joseph Boakai late last year, will be in charge of selling the credits.
Why this Matters to You
If you live in or own land within a Liberian forest community, this policy may directly affect your income, as it guarantees your community could receive up to 50% of the revenue from carbon credits generated on your land. For the country, this framework could unlock a new stream of international investment aimed at preserving forests.
What's Next
CMA CEO Jeanine Cooper stated she expects a final version of the policy to be ready for President Boakai to sign soon. Once signed, the CMA will likely begin the process of establishing the national registry and engaging with international buyers to bring the first credits to market.