RELATED:Siloed approach will help achievement of UN’s SDGsWhat to make of the new African carbon markets initiativeKamoa Copper to be a low GHG emitter per unit of copperWhile important variations in extant energy systems and resource endowments exist among African nations, the collective assets of the continent make it a natural resources and natural capital superpower. This month, in Sharm-El Sheikh, the Africa Carbon Markets Initiative (ACMI) will announce plans to scale African VCMs. Success would mean rapidly reducing the time it takes to generate credits, increasing the underlying quality and price of African carbon credits, and significantly increasing the volume of credits produced. The sum of money that could be generated from the VCMs for nature-based CO2 removal alone could be worth up to $86 bln/ year for Africa, Climate Action Platform-Africa (CAP-A) estimates. Preserving African carbon sinks is essential for keeping global temperatures from rising above 2 degrees celsius.

Source: The North Africa Journal November 22, 2022 19:49 UTC