Papua New Guinea government delegation attending the Climate Change Conference in Dubai known as COP28 has successfully signed an agreement with Blue Carbon to elevate climate collaboration.
Blue Carbon, a United Arab Emirates based environmental asset developer and the government of Papua New Guinea (PNG) has signed a Memorandum of Understanding (MOU) to collaborate on projects related to the implementation of Article 6 of the Paris Agreement, marking yet another significant development in collaborative climate solutions during the ongoing COP28 in Dubai.
The MOU, a refined and updated accord, builds on previous agreements between Blue Carbon and Papua New Guinea and positions them to delve deeper into projects particularly related to the implementation of Article 6 of the Paris Agreement.
This enhances their capacity to generate mitigation outcomes which can be transacted as Internationally Transferred Mitigation Outcomes and represent a pivotal step towards meeting National Determined Contributions targets and advancing the overarching goals of the Paris Agreement.
This expanded MOU marks a significant milestone in international cooperation, laying foundation for bilateral negotiations that will foster a collaborative approach across various sectors of the economy where best practice methodologies for removal and reduction would be of Green House Gas emissions could be applied, aligning with the evolving provisions of Article 6.
A noteworthy aspect of this initiative involves assessing Papua New Guinea’s vast mangrove areas, which play a crucial role in sequestering Carbon dioxide and providing essential services to local communities.
The signing of the MOU underscores the dedication of both parties to drive meaningful climate action. It recognizes the urgent need for international cooperation to address the challenges of a changing climate, echoing discussions at COP28.
The signing ceremony occurred in Dubai with Simo Kilepa, Minister for Environment, Conservation and Climate Change and Josiane Sadaka, Blue Carbon CEO and witnessed by Prime Minister James Marape, and His Highness Sheikh Ahmed Dalmouk Al Maktoum, a senior member of the Dubai Royal family and chairman of Blue Carbon.
