Thursday, November 21African Digital Business Magazine

Tag: carbon market in Africa

4Sep By Africa BusinessNo Comments
Energy

UAE Carbon Alliance pledges to purchase US$450 million in African carbon credits by 2030

The pledge by the UAE Carbon Alliance seeks to connect the high-integrity supply of African carbon credits to high demand from the Middle East. The UAE Carbon Alliance, chaired by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA), signs a non-binding Letter of Intent with the Africa Carbon Markets Initiative’s Advance Market Signal to pledge an indicative intended purchase of US$450 million in African carbon credits by 2030. The Africa Carbon Markets Initiative (ACMI) is a collaborative effort incubated by Sustainable Energy for All (SEforALL), the Global Energy Alliance for People and Planet (GEAPP), and The Rockefeller Foundation, and rolled out in partnership with the United Nations Economic Comm...
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19Jul By Africa BusinessNo Comments
Energy

Africa: Changes looming for carbon markets as developing economies implement laws around Paris Agreement commitments

By Kieran Whyte, Partner and Head of the Energy, Mining and Infrastructure Sector Group, and Clara Hansen, Candidate Attorney, Baker McKenzie Johannesburg In the last few years, the number of voluntary carbon markets has increased as a result of the operationalisation of the Paris Agreement and a general influx of investors into the sector.  Principles under the Paris Agreement. Article 6 of the Paris Agreement was introduced to allow countries to voluntarily cooperate with each other to achieve emission reduction targets set out in their Nationally Determined Contributions (NDCs). Under Article 6, a country (or countries) will be able to transfer carbon credits earned from the reduction of their greenhouse gas (GHG) emissions to help other countries meet their climate targets. Such cre...
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