Government Introduces Governance on Application of Carbon Economic Value

As a follow-up to the mandates originally set under Regulation of the President No. 98 of 2021 [1] and as a part of efforts aimed at achieving the country’s targets in relation to Nationally Determined Contributions (“ NDC ”) [2] and Greenhouse Gas Emissions (“ GHG ”) reductions, the Minister of Environment and Forestry (“ Minister ”) has issued Regulation No. 21 of 2022 on the Application of Carbon Economic Value Governance (“ Regulation 21/2022 ”). [3]