As a signatory to the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol, Nigeria has made international commitments to promoting low-carbon development, including meeting its reporting obligations to the UNFCCC, reducing emissions of greenhouse gases consistent with its national circumstances and within the context of poverty reduction and economic growth.
The UNFCCC, the Kyoto Protocol and other international institutions and processes also provide a range of financial incentives to embark on low-carbon projects. These include the Clean Development Mechanism and REDD (Reduced Emissions from Deforestation and Degradation). Nigeria’s first REDD+ project was approved in October 2011. Others, such as the Green Climate Fund, are currently in the development stage.
Nigerians also have access to funds and incentives established outside the UNFCCC process, but with the aim of promoting low-carbon development (LCD), including the Clean Technology Fund, of which the World Bank is trustee, and the Global Energy Efficiency and Renewable Energy Fund, established by the European Union
