Browsing: carbon offsets

• For a country so crucial to the global energy transition, the world awaits DR Congo’s political transition.
• Congo’s political transition will be a massive factor in the significance of its massive natural resources in global energy transition needs.
• President Felix Tshisekedi, seeking a fresh mandate from the people, refers to Congo as the ‘solution country’ for the global climate crisis.

The Democratic Republic of Congo goes to the polls today to elect a president whose role will be vital in the global fight against climate change over the next five years. The Central African nation’s minerals, forests, and rivers are crucial to the future of green transition globally. Congo’s political transition will be a massive factor in the significance of these resources in global energy needs.

President Felix Tshisekedi, seeking a fresh mandate from the people, refers to Congo as the ‘solution country’ for the global climate crisis. However, he …

• The reward for fixing the carbon credit trade could be enormous, especially for Africa’s energy transition.
• The $2 billion global trade in voluntary carbon markets (VCMs) has suffered from greenwashing allegations, with prices plummeting from the 2022 peaks.
• For some African climate-linked businesses, the successful functioning of the carbon credits market is not a nice one but is core to their operating strategy.

Highly indebted nations need all the financing available to support their energy transition and climate adaptation needs. With the developed world lagging on its climate funding pledges, market-based solutions provide a supplementary funding source.

Carbon credits, a tradeable instrument obtained when a tonne of carbon is avoided or withdrawn from the atmosphere, have always offered significant optimism. With swaths of carbon-capturing biodiversity in the global south, Africa has the supply, while the industrialised nations looking to offset their emissions have the demand. Buyers then channel the finances …

In recent years, Africa has gained increasing attention in the climate change dialogue, especially its role in the global carbon offset market. But what exactly does this mean for the continent and the world? This article delves into the concept of carbon offsets in Africa, explores the benefits, assesses Africa’s contribution to global emissions, and examines the leading countries in carbon trading.…

• Kenya has the potential to sequester, reduce, or avoid ~30 metric tons of carbon dioxide equivalent per year and mobilize up to $600 million annually.  
• From 2016 to 2021, Kenya issued ~26 Mt CO2e of carbon offsets, more than any other African country and approximately 20 per cent of total African credits. 
• The Government has set up a technical working committee to support the implementation of Article 6 of the Paris Agreement to leverage the carbon market.

Kenya has the potential to sequester, reduce, or avoid ~30 metric tons of carbon dioxide equivalent per year and  mobilize up to $600 million annually from regulatory compliance and voluntary carbon market (VCM) projects by 2030 using an average price of $20 per ton.

This is according to the latest Kenya Private Sector Alliance (KEPSA) report dubbed “Change the Story: Developing a Local Carbon Market in Kenya”. The report describes the current …