The Somali Development and Reconstruction Bank (SDRB) organized a workshop on framing Somalia’s National Carbon Market Policy. This workshop was attended by representatives from government and private sector entities.

In their opening remarks, SDRB Director General, Adam Roble and the CEO of the Somali Bankers Association (SBA), Dr. Ahmed Khadar Jama, highlighted the opportunities available for Somalia to participate in Carbon Markets while also outlining the challenges the country faces from recurring climate shocks. An emphasis was made on how this funding source could play a vital role in mitigating such risks.

Presented by Mr. Elisee Gashugi of Neyen Consultancy, a firm specializing in climate change advisory, the workshop shared the findings of an assessment on Somalia’s readiness to participate in the Carbon Market. The presentation highlighted sectoral opportunities and outlined proposed mechanisms to strengthen Somalia’s preparedness and expand its accessibility to Carbon Market initiatives. The initiation of this assessment was preceded by a consultative workshop which took place earlier this year.

Key experts engaged participants with their reflections.