We will be able to trade in carbon once the Climate Change Bill becomes an Act - AG

Attorney General, Aiyaz Sayed-Khaiyum says once the Climate Change Bill becomes an Act, Fiji will be able to trade in carbon and there will be a national register which will give property rights to resource owners.

Speaking at a High-Level Panel Discussion on Paris+5 Sprint to Glasgow, Sayed-Khaiyum highlighted the need to explore carbon markets so that resource owners are incentivised to engage in conserving the environment.

He says the new Climate Change Bill which is out for consultation will enable Fijians to capitalise on carbon trading.

Carbon trading is a market-based system aimed at reducing greenhouse gases that contribute to global warming, particularly carbon dioxide emitted by burning fossil fuels.

Sayed-Khaiyum says the fact that Fiji has such a good brand and a Prime Minister that is well recognised, Fiji actually conjures up positive images and ideas in respect of climate change.

Sayed-Khaiyum also highlighted the need to focus on nature-based solutions to build resilience and the need for concessional and cost-effective finance to achieve Fiji’s climate ambitions.