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Browsing: Africa’s natural wealth
- Despite its $6.2Trn natural wealth, Africa remains “green rich but cash poor.”
- Projections show that had carbon sequestration alone been accounted for, Africa’s nominal GDP in 2022 could have increased by $66.1Bn.
- In Europe, carbon prices can reach as high as $200 per tonne, yet the same credits are traded for as little as $3 to $10 per tonne in Africa.
At the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, African leaders are pushing for a fair valuation of the continent’s natural riches—spanning vast forests, carbon sequestration capabilities, and ecosystem services.
They call on authorities to factor them into calculating Gross Domestic Product (GDP). This bold move aims to redefine wealth on a global scale by integrating the immense value of Africa’s natural assets into economic frameworks.
In a pivotal communique, African heads of state have cited the invaluable contributions of their ecosystems to global public …