Scaling voluntary carbon markets across Africa
Global demand for carbon credits is rising and there is huge potential for Africa to supply these credits. The money received in return can finance sustainable development across the continent, powering economic growth while reducing global carbon emissions.
The Africa Carbon Markets Initiative (ACMI) seeks to unlock the potential of voluntary carbon markets for financing Africa’s energy, climate and development goals.
The initiative was launched at COP27 by a group of sponsors that includes the Global Energy Alliance for People and Planet, Sustainable Energy for All, The Rockefeller Foundation, and UN Economic Commission for Africa, with support from the UN Climate Change High-Level Champions.
ACMI’s sponsors and Steering Committee, which consists of African leaders, CEOs, and carbon credit experts, are working across the entire carbon markets value chain to address barriers and help countries capitalize on the carbon market opportunity.
ACMI's Objectives
30 m
New or supported jobs, by 2030
100 m
New or supported jobs, by 2050
6 bn $
Value of the African credits mobilized, per annum, by 2030
100 bn $
Value of the African credits mobilized, per annum, by 2050
300
Megatons of CO2e in African carbon credits retired by 2030
-1
Gigatons CO2e in African carbon credits retired by 2050
ACMI Steering Committee
African Governments
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Yemi Osinbajo, Vice President, Government of Nigeria
Global Expertise
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Iván Duque Márquez, Former President, Government of Colombia
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Annette Nazareth, Chair, Integrity Council for Voluntary Carbon Markets
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Samuel Thevasagayam, Deputy Director, Gates Foundation
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Gillian Caldwell, Chief Climate Officer, USAID
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Bogolo Kenewendo, Africa Director, Special Advisor, UN Climate Change High-Level Champions
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Kelley Kizzier, Director of Corporate Action and Markets, Bezos Earth Fund
Verification/Registry Agencies
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David Antonioli, CEO, Verra
Suppliers, Financiers, Intermediaries and Buyers
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Sitoyo Lopokoiyit, CEO, M-PESA Africa
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Ariel Perez, Managing Partner, Hartree
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Riham ElGizy, Director, MENA Voluntary Carbon Exchange
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M. Sanjayan, CEO, Conservation International
Partner Collaborators
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Damilola Ogunbiyi, CEO, Sustainable Energy for All (SEforALL), Special Representative of the UN Secretary-General for Sustainable Energy for All
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Joseph Nganga, Vice President Africa, Global Energy Alliance for People and Planet (GEAPP)
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William Asiko, Vice President for Africa, The Rockefeller Foundation
Sponsoring partners:
Supporting partners:
Events
The sixth edition of the Africa Business Forum will be held under the theme Making Carbon Markets Work for Africa. The Africa Carbon Markets Initiative will hold a session called "Setting the scene: What are carbon markets and business opportunities for Africa?"
Latest News
Yemi Osinbajo, Vice President of Nigeria, and Iván Duque Márquez, former president of Colombia, write that across Africa, policymakers are recognizing that voluntary carbon markets represent a major opportunity to accelerate sustainable economic development, both by attracting more climate finance to the continent and by curbing greenhouse-gas emissions. But making the most of the opportunity will require thoughtful leadership.
Voluntary carbon markets could not only generate attractive returns on investment in African countries, but also help them meet their own environmental challenges, from boosting renewable power to adopting cleaner cooking methods to reducing deforestation.
Contact:
Get further information via e-mail or the ACMI LinkedIn page.