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Browsing: Greenhouse emissions
- 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Carbon credits, a tradeable instrument obtained when a tonne of carbon is avoided or withdrawn from the atmosphere, have always offered significant optimism.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.…
Gabon is one of few countries with a carbon-negative economy, thanks to the Congo Basin’s immense tropical forests, which absorb more greenhouse gases than the country’s companies, cars, and towns emit.
It just approved an ambitious climate law to ensure that its economic bases are on forests and agriculture rather than fossil fuels.
Outside assistance is required to attain this goal so that the government can continue to enhance living standards.
Many African countries rely on coal for electricity and have refused to sign a declaration signed by more than 40 countries this week calling for an end to the most polluting of fossil fuels.…