Trending
- COP29: Africa calls for fair GDP valuation of its $6 trillion natural wealth
- Africa’s rising global role as BRICS onboards Egypt and Ethiopia economies
- Environmental pollution: A swelling pain point among communities in Africa
- S&P Global: Mozambique Unrest Pushing the Country on the Brink of Default
- Kenya Launches New Policy Guide for the Gig Economy
- SDG 6 slips out of reach as Africa faces clean water challenges
- Kenya sets 2027 start for mandatory IFRS sustainability reporting
- Tanzania’s AMSONS Group gets Comesa nod to acquire Kenya’s Bamburi Cement
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 in Africa, the same credits are traded for as little as $3 to $10 per tonne.
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 are calling on authorities to factor them into the calculation of 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 …