Africa Carbon Markets Initiative
Led by a thirteen-member steering committee of African leaders, CEOs, and carbon credit experts, ACMI aims to dramatically expand Africa’s participation in voluntary carbon markets.
ACMI’s ambition is to:
- Grow African credit retirements ~19-fold from 2020 to ~300 MtCO2e per annum by 2030 and up to 1.5-2.5 GtCO2e by 2050;
- Create or support 30 million jobs by 2030 and more than 100 million jobs by 2050 through the carbon project development, execution, certification, and monitoring;
- Raise the quality and integrity of African credits to mobilize up to US$6 billion by 2030 and more than US$100 billion per annum by 2050;
- Ensure equitable and transparent distribution of carbon credit revenue, with a significant portion of revenue going to local communities.
Global Energy Alliance for People and Planet, Sustainable Energy for All, and the UN Economic Commission for Africa are collaborating to launch ACMI. The UN Climate Change High Level Champions is a supporting partner of ACMI.
ACMI’s roadmap to scaling voluntary carbon markets in Africa has been launched on 8 November 2022 and is available here for download.
Abu Dhabi Sustainability Week
16 January - 4:00-5:00 pm
ACMI is organizing, at Abu Dhabi Sustainability Week (ADSW), the “Scaling-up the Africa Carbon Market: Bringing Carbon Finance to the African Continent” event. This session will include an update on the progress ACMI has made since COP27 and an overview of plans for 2023.
ACMI Steering Committee
Yemi Osinbajo, Vice President, Government of Nigeria
Iván Duque Márquez, Former President, Government of Colombia
Annette Nazareth, Chair, Integrity Council for Voluntary Carbon Markets
Samuel Thevasagayam, Deputy Director, Gates Foundation
Gillian Caldwell, Chief Climate Officer, USAID
Bogolo Kenewendo, Africa Director, Special Advisor, UN Climate Change High-Level Champions
David Antonioli, CEO, Verra
Suppliers, Financiers, Intermediaries and Buyers
Sitoyo Lopokoiyit, CEO, M-PESA Africa
Ariel Perez, Managing Partner, Hartree
Riham ElGizy, Director, MENA Voluntary Carbon Exchange
M. Sanjayan, CEO, Conservation International
Damilola Ogunbiyi, CEO, Sustainable Energy for All (SEforALL), Special Representative of the UN Secretary-General for Sustainable Energy for All
Joseph Nganga, Vice President Africa, Global Energy Alliance for People and Planet (GEAPP)
16 Jan 2023
09 Nov 2022
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.Read more
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.Read more