(AFRICAN EXAMINER) – Barely a month ago, the Federal Government through the Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed a policy plan by the government to remove fuel subsidy on Petroleum Motor Spirit (PMS) in February 2022 and a target date of mid-2022 for the complete elimination of fuel subsidies in Nigeria, […]
Spread the love
DAVID MICHAEL TERUNGWA
As African countries steps up efforts to revise and submit their Nationally Determined Contributions (NDCs) to the UNFCCC there is the urgent need to include the carbon fee and dividend policy otherwise referred to as climate income as the continents carbon pricing policy to build back better post COVID19, reduce poverty and achieve the African Union Agenda 2063.
What is Carbon Fee and Dividend?
Carbon Fee and Dividend is the policy proposal created by Citizens’ Climate Lobby (CCL) to internalize the costs of burning carbon-based fuels. It’s the policy that climate scientists and economists alike say is the best first-step to reduce the likelihood of catastrophic climate change from global warming as well empowering the poverty through basic climate income.