Reduction of greenhouse gas emissions by 2030 to cost Namibia around N$112 billion – minister
Plans to reduce greenhouse gas emissions by 91% by 2030 will cost around N$112 billion, the Minister of Environment, Forestry and Tourism, Hon Pohamba Shifeta said last week.
Breaking down the cost Shifeta said N$65.2 billion is for mitigation measures and N$47.1 billion is for adaptation targets.
Speaking at the ministry’s new year address, Shifeta said in terms of limiting greenhouse gas emissions, Namibia has targeted energy, waste, industrial processes and product use and agriculture, forestry, and other land use.
“90% of the required funding to implement the Nationally Determined Contributions (NDC) will be sourced from multilateral and bilateral sources and only 10% of the funding will be sourced domestically,” Shifeta said.
Given the above figures, the ministry will continue to work with different development partners and multilateral funding windows such as the Adaptation Fund, Global Environmental Facility, and Green Climate Fund to mobilize climate finance, Shifeta added.
He added that last year, Namibia coordinated the updating and submission of the country’s climate change commitments known as the NDCs as per the requirement of the Paris Agreement.
“In this document, we have pledged our commitment to the world towards limiting the global temperature rise to well below 1.5 degrees Celsius as well as how we intend to increase resilience across our key economic sectors,” he said.
Furthermore, he said the ministry will continue to work with all stakeholders to ensure that climate change issues are integrated into all spheres of the country’s developmental aspirations and conservation efforts.
“We are excited by and fully committed to the development of the green hydrogen industry and have designated land in the Tsau //Khaeb National Park for the Southern Corridor Development Initiative for green hydrogen,” Shifeta concluded.
