Addis Ababa, November 14, 2024 (FBC) – Ethiopia and Russia have inked a Memorandum of Understanding (MoU) to collaborate on carbon trading and other initiatives aimed at mitigating climate change, as disclosed by the Ministry of Planning and Development of Ethiopia (MoPD).
The MoU was formalized during a meeting between the representatives of the two nations on the sidelines of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), held in Baku.
The primary objective of this agreement is to bolster Ethiopia’s efforts to restore its forest cover and sustainably combat climate change, while also fostering collaboration on carbon trading.
In this context, the MoU was signed by the two BRICS member countries to support Ethiopia’s Green Legacy program, which aims to reduce greenhouse gas emissions and promote collaboration on carbon trading, as stated by the Minister of Planning and Development of Ethiopia, Ms. Fitsum Assefa (PhD).
According to MoPD’s information, the agreement will also facilitate the provision of technical support to Ethiopia in the areas of carbon trading and forest care and conservation.