Why carbon market are becoming increasingly important to Africa’s economy
Ritah Rukundo moderated a focused webinar aimed at guiding businesses through the carbon project lifecycle
Carbon markets are becoming increasingly important for the African economy, providing access to funding, new technologies and a pathway to mitigate climate change impacts. As the UNDP notes, carbon credits offer African nations a powerful tool for sustainable development.
A webinar session brought together industry leaders who shared insight addressing key stages of a carbon project: from feasibility, financing, methodology selection, validation, verification, to credit issuance.
Grant Little, Carbon Developer at Anthesis South Africa, outlines the significance of project alignment with the appropriate registry and methodology. He advised on “the importance of finding someone who understands the carbon market” to “build in-house expertise.”
Adding to that, Jamie Hendriksen, Regional Director of Africa for Wildlife Works Carbon, stressed the importance of conducting a pre-feasibility study in the early stages of carbon projects. Hendriksen highlighted the critical role of community engagement, noting that securing community buy-in is essential. The communities’ voices must be heard for the project to be viable and move forward.
Financial structures
Hirander Misra, Chairperson and Co-founder of GroupZERO13, provided a unique analysis of the financial structures and the long-term viability of carbon projects. He brought focus on the commodification of carbon credits, positioning them as an impactful way for asset holders to diversify their portfolios.
Bernardin Uzayisaba, Specialist of the Carbon Market Programme for the UNCP, addressed the important role played by the private sector, donors like GIZ and the EU, and the government support in unlocking carbon opportunities across the continent.
The webinar left participants optimistic and better equipped to navigate the dynamic future of carbon markets in Africa.
Cover photo: thainoipho©123rf
