Lebanon Launches National Carbon Market Roadmap with UN Support

Environment Minister Tamara Al-Zein emphasized "the state's responsibility in opening opportunities for scientific advancement, planning, and cooperation among its institutions," stressing that "Lebanon cannot afford to waste more opportunities or subject its citizens' interests to political tug-of-war."

She considered that "the seriousness of work is measured by providing financing conditions and implementing projects," clarifying that "this approach directly guides the Ministry of Environment in preparing a national roadmap for the carbon market, allowing for the assessment of financing opportunities for climate projects and building the necessary foundations to benefit from them."

Al-Zein affirmed that "political disagreement does not exempt anyone from the responsibility of agreeing on sound management of public utilities." She stated: "Waste and energy files must not remain hostage to disagreements while Lebanese people pay the cost of stagnation with their health and livelihoods."

She noted that "this initiative has an economic dimension related to Lebanon's need to expand sources of financing for its projects and attract investment in sectors capable of reducing emissions." She pointed out that "developing this path may enable mobilizing additional resources to implement environmental and climate priorities, linking international commitments with tangible economic opportunities."

Al-Zein's remarks came after she launched the process of preparing the national roadmap for the carbon market, supported by the United Nations Development Programme (UNDP) in Lebanon and the "Climate Promise" initiative, based on Article 6 of the Paris Agreement.

To this end, Al-Zein chaired a technical working meeting attended by the Ministry of Environment team, the international expert on Article 6 of the Paris Agreement Dr. Axel Michaelowa, and the head of the National Solid Waste Management Authority. The discussion focused on opportunities for developing projects in the waste sector eligible to participate in international carbon markets, and the challenges facing them.

Al-Zein explained that "the roadmap aims to assess the potential of converting emission reductions into financing and investment opportunities, including the possibility of selling carbon credits according to internationally accepted standards."

She indicated that "potential revenues from these credits could constitute an additional resource for eligible projects, contributing to supporting their financing, enhancing their economic viability, and sustainability." She considered that "the importance of this path lies in making available economic value for achieved emission reductions, alongside their environmental benefit, which may enhance the attractiveness of investment in sustainable projects."

She saw that "starting with the waste sector allows linking the handling of a daily crisis with opportunities for financing solutions and ensuring their sustainability." She noted that "improving the management of this sector and developing projects that reduce its emissions provide a basis for studying the possibility of benefiting from carbon financing to support them."

Al-Zein affirmed that "the role of the Ministry of Environment goes beyond addressing existing damages to exploring economic and financial opportunities for climate action, and establishing scientific and institutional foundations to benefit from them," stressing that "clarity of rules and procedures constitutes a fundamental element in building the trust of funders and investors in projects that can be developed."

She revealed that "consultations will expand to other sectors, particularly energy, in cooperation with the Ministries of Energy and Water and Finance, and specialized teams within the Ministry of Environment," clarifying that "the work will include identifying sectoral potentials, technical and financial requirements, and regulatory frameworks necessary for participation."

She pointed out that "results of emission calculations and trajectory assessments indicate that Lebanon is moving in the right direction regarding its climate commitments, enabling the exploration of opportunities to benefit from carbon market mechanisms."

She noted that "progress in reducing emissions does not automatically mean the availability of sellable credits," explaining that "benefiting requires project accreditation and proving, measuring, and verifying the reductions they achieve with integrity according to international rules, while preventing double counting and ensuring consistency with Lebanon's obligations under the Paris Agreement."

Minister Al-Zein concluded that "the value of any climate financing is measured by what it enables in terms of actual projects that protect the environment and improve people's lives, and by what it adds in terms of capacity to finance solutions and ensure their sustainability," affirming that "the goal is to build a path that combines environmental impact, economic viability, and public interest."