Namibia is positioning carbon markets as a potential new source of climate finance as it seeks funding to tackle drought, water scarcity, rising temperatures and other climate risks while contributing just 0.06% of global carbon emissions.
National Council member Nestor Sheimi said Namibia has an opportunity to tap carbon credits and other carbon market mechanisms to mobilise funding for renewable energy, water security and climate-smart agriculture.
Speaking at the 12th Global Inter-Parliamentary Union (IPU) Conference of Young Parliamentarians in Samarkand, Uzbekistan, Sheimi called for partnerships with countries that have already introduced carbon taxes and carbon credit frameworks.
“Namibia has the potential to use the carbon market as a new source of climate financing, and we look forward to partnerships for benchmarking with countries that have policies and have implemented carbon credits and carbon taxes to learn from,” Sheimi said.
He said greater adoption of carbon pricing mechanisms globally could provide additional funding to countries facing significant climate risks.
According to Sheimi, only 47 countries have implemented carbon tax policies, highlighting what he described as the need to accelerate carbon taxation and carbon credit programmes.
His comments come as Namibia seeks to expand investment in renewable energy and climate-resilient infrastructure while confronting recurring droughts, floods and water shortages.
Sheimi said Namibia’s exposure to climate shocks is disproportionate to its contribution to global emissions, which he placed at 0.06%.
He called on countries responsible for the largest share of historical emissions to provide climate financing, technology transfers and capacity building to vulnerable economies.
“Our call is for compensation from countries with the most historic emissions, and they should have a responsibility to support vulnerable countries through climate financing, technology transfer and capacity building,” he said.
Sheimi said funding should translate into direct investment rather than remain limited to international policy commitments.
“We must translate this commitment into practical investment in water security, renewable energy, climate-smart agriculture, disaster preparedness and sustainable livelihoods,” he said.
He warned that climate change poses wider economic risks to African countries through its impact on agriculture, food security, employment and livelihoods.
“If we fail to address climate change, we risk an increase in poverty, unemployment, food insecurity and migration,” Sheimi said.
He warned that worsening economic and social pressures resulting from climate change could ultimately contribute to instability and conflict.
Sheimi also called for stronger environmental protections and greater use of carbon sequestration, carbon credits and carbon taxes as countries move towards longer-term climate resilience.
“Let us therefore move from climate promises to climate action and from short-term response to long-term resilience,” he said.
