In close collaboration with the United Nations Development Programme, the Ministry of Environment, Forestry, and Tourism played a crucial role in facilitating the preparation and adoption of the national framework.

The main objective of this framework is to enable Namibia's active participation in the international carbon market. It outlines the necessary processes for developing and implementing carbon market activities within the country.

During the validation of the Carbon Markets Framework for Namibia held at Walvis Bay, Environmental Commissioner Timoteus Mufeti highlighted the significance of this initiative.

Mufeti emphasised that the Government of Namibia recognises the importance of collaboration among key stakeholders in achieving the ambitious target of reducing national emissions by 2030.

In this regard, the project aims to establish an environment that would allow Namibia to explore and pursue carbon market-based pricing options.

This, he says, will place Namibia among the front-runners in the SADC region to pilot and support the development and implementation of the carbon market framework. 
 
The project seeks to facilitate technology transfer, ensure access to technical assistance, and promote ongoing capacity building through multilateral and bilateral cooperation with development partners.

"In terms of institutional arrangements, the MEFT remains responsible for coordinating the implementation of Namibia's NDC. Therefore, I hope that we follow the same arrangement for MEFT to host the Carbon Markets Secretariat as the National Designated Authority for the UNFCCC to ensure alignment with the NDC. The Carbon Markets Secretariat shall support the work of a Carbon MarketsTaskforce that will be established to oversee the functions of supervise approval, rulemaking, and providing technical advice functions related to carbon market engagements in Namibia."

Also speaking at the occasion was Hisao Nishimaki, Ambassador of Japan to Namibia.

"The Japanese Government has decided to provide a total of USD 42 million to UNDP under the name of the project, "Japan-UNDP Support for Transition Efforts to Decarbonization" and the fund was distributed to 23 countries inclusive of Namibia. The Government of Japan is committed to providing technical assistance to countries to develop their Carbon Markets and Namibia is one of the beneficiaries through the project funded by the Japanese Government named, "Promotion of Carbon Markets in Namibia for an enhanced implementation of the Nationally Determined Contribution (NDC) towards net-zero emissions and climate-resilient development, in response to the climate emergency", in short, referred to as Promotion of Carbon Markets project in Namibia."