Strengthening Carbon Market Integrity: The Role Of MRV Protocols

Economic growth and environmental protection are often presented as competing interests. Industrialization drives economic development, but it can also place significant pressure on the environment through the emission of greenhouse gases (GHGs), including carbon dioxide, methane and nitrous oxide, which contribute to global warming. One mechanism developed to encourage emissions reduction is the carbon market, which creates economic incentives for reducing or removing greenhouse gas emissions through the generation and trading of carbon credits.¹

Carbon markets have become an increasingly important source of climate finance and present opportunities for Nigeria to attract investment in emissions reduction projects. However, the credibility of these markets depends on the reliability of the carbon credits being traded. Where credits are issued on the basis of inaccurate data or emissions reductions that cannot be substantiated, the integrity of the market is undermined. This can