Carbon Market and Climate Finance support for NDC implementation in Senegal

Senegal is already engaged in a variety of initiatives and efforts seeking international market cooperation under the Paris Agreement and climate funding for its NDC mitigation objectives. Continued capacity strengthening of national bodies and private actors is deemed necessary by the Direction de l’Environnement et des Etablissement Classés (DEEC) from the Ministry of Environment and Sustainable Development (MEDD), acting as both Senegal’s NDC coordinator, CDM Designated National Authority as well as National Designated Authority to the GCF.

This workshop thus brought together over 80 public and private sector stakeholders to take stock of ongoing initiatives in Senegal and discuss opportunities, capacity needs and open questions about COP24 Katowice and Paris Agreement Art. 6 current situation, Senegalese ongoing initiatives on carbon markets and climate finance, and the underlying opportunities for its NDC implementation. Identified needs, updated concerns and other outcomes from the workshop will form the basis for further targeted capacity support.

• AEE and Climate Focus reported latest updates on Carbon markets under the Paris Agreement
• DEEC, AERA Group and Meridiam discussed the Senegalese CDM mitigation pipeline – experiences and opportunities
• DEEC and FONSIS reviewed Senegal’s mitigation pipeline for the GCF
• AEE and DEEC explored domestic carbon pricing in Senegal and a national platform for carbon markets and climate finance

A project-specific work-session was also held the day before on the GCF funding for the ASER Rural Electrification programme, with BOAD and DEEC.
A consultation meeting on Article 6 pilot initiatives in Senegal took place the day after, featuring ASER’s Standardized Crediting Framework (SCF) and the National Biogas Program (PNB) proposed transaction with KliK foundation.