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Shifting holdings limited boss Cyrus Jirongo shakes hand with Congo environment Agency boss Lama Onyangunga after signing carbon emmussions agreement. [Courtesy]
The Democratic Republic of the Congo has committed to reduce its carbon emissions by 21 per cent equivalent to 650 million tons of CO2 emissions by 2030.
This is in line with the Paris Agreement and other climate change declarations calling for urgent action by developed countries to reduce emissions.
African countries have continued to be crippled by huge debts as they borrow more funds from developed countries to address various issues brought about by climate change.
DRC has walked the talk by signing the agreement that starts its journey towards lowering emissions.
In a call to action, African leaders attending the inaugural Africa climate summit held in Nairobi, in September 2023, stressed the importance of decarbonizing the global economy for equality and shared prosperity.
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“We must see in green growth not just a climate imperative, but also a fountain of multi-billion-dollar economic opportunities that Africa and the World are primed to capitalize on,” said Kenyan President William Ruto.
DRC inked a 48.2 billion-dollar (Sh6.2 trillion) deal that will cover its transportation, energy, industry, waste, agriculture, and forestry.
The move was deemed necessary to ensure control, monitoring, and reporting of activities aimed at generating, absorbing, and reducing greenhouse gas emissions across the national territory, to ensure that the DRC meets its commitments under the Paris Agreement.
“Under this agreement, the share of carbon assets belonging to the DRC will be recorded in a national carbon asset register. This ensures accountability and transparency, directly benefiting the Congolese people,” said Kenyan businessman and former minister Cyrus Jirongo.
“The agreement we have just signed represents a significant milestone, a commitment to sustainability that will help fight climate change.”
The deal was signed by the Congolese environmental agency where a Memorandum of Understanding (MOU) was inked between the Congo government and Luokong Technology Corporation, alongside Nairobi-based Shiftings Limited.
The company’s Chief Executive Officer is Cyrus Jirongo, who represents Luokung’s activities in Africa.
The parties have said they will ensure that environmental protection is considered in the execution of any development project involving infrastructure, renewable natural resources among others.
"We're thrilled to introduce advanced tools to Africa's carbon market, ensuring standardized, digitally-driven carbon accounting for nature-based projects at a fraction of traditional costs and time," said Jirongo.
LuoKung will leverage satellite imagery, remote sensing, and machine learning technologies to provide carbon neutrality data services and natural resources asset management to assess and monitor Congo’s carbon reserves.
The DRC government has maintained a commitment to the process of establishing the legal and institutional framework related to the carbon market to strengthen its national capabilities to combat climate change even as the focus shifts to other African countries.
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