African carbon market
The African carbon market refers to the market for the trading carbon credits generated by projects in Africa that reduce greenhouse gas emissions or carbon sequestration projects.[1]
The African carbon market is an effort to integrate climate change mitigation with poverty alleviation for local-level farmers in Africa. Agricultural carbon market participants seek to receive credit for avoided greenhouse gas emissions while granting monetary benefits to farmers.[2]
Background
The African carbon market is one of the many carbon credit trading markets established since the Kyoto Protocol in 1997.
Microsoft and the Wildlife Conservation Society (WCS) participated in the first government-backed sale of carbon credits in Africa with the Government of Madagascar in 2014.[3]
The African Carbon Market Initiative was launched at COP27 in 2022 to produce 300 million carbon credits annually. Between 2016 and 2021, only 11% of carbon credits came from projects in Africa.
References
- ^ Karavai, Maryna; Hinostroza, Miriam (2013-01). "Conceptualizations of sustainability in carbon markets". Climate and Development. 5 (1): 33–45. doi:10.1080/17565529.2012.762332. ISSN 1756-5529.
{{cite journal}}: Check date values in:|date=(help) - ^ Lee, Jean; Ingalls, Micah; Erickson, Jon D.; Wollenberg, Eva (2016-07). "Bridging organizations in agricultural carbon markets and poverty alleviation: An analysis of pro-Poor carbon market projects in East Africa". Global Environmental Change. 39: 98–107. doi:10.1016/j.gloenvcha.2016.04.015.
{{cite journal}}: Check date values in:|date=(help) - ^ Deel, Lindsay (2014). "Microsoft buys first carbon credits in Africa". Frontiers in Ecology and the Environment. 12 (3): 148–148. ISSN 1540-9295.
Further reading
- Kreibich, Nicolas; Hermwille, Lukas; Warnecke, Carsten; Arens, Christof (23 February 2017). "An update on the Clean Development Mechanism in Africa in times of market crisis" (PDF). Climate and Development. 9 (2): 178–190. doi:10.1080/17565529.2016.1145102. S2CID 55580792.
- Bryan, Elizabeth; Akpalu, Wisdom; Yesuf, Mahmud; Ringler, Claudia (October 2010). "Global carbon markets: Opportunities for sub-Saharan Africa in agriculture and forestry". Climate and Development. 2 (4): 309–331. doi:10.3763/cdev.2010.0057. S2CID 153499277.
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