Voluntary Carbon Markets In Africa: A Deep Dive Into Opportunities And Challenges
Policy Center for the New South
Download
Abstract: This report explores voluntary carbon markets (VCMs) in Africa, analyzing their operational structure, market participants, and climate finance potential. The paper emphasizes historical trajectories of forest conservation credits and Article 6.2 opportunities, referencing Kenya?s pioneering role in projects like Kasigau and Mikoko Pamoja. It presents a typology of carbon mechanisms and highlights policy innovations across Rwanda, Zambia, Morocco, and South Africa. The document identifies challenges such as integrity risks, insufficient MRV, foreign actor dominance, regulatory uncertainty, and limited project scalability. It advocates for regional standard harmonization, co-benefit modeling, stronger investor safeguards, and capacity building. With Africa needing $6 trillion by 2030 to meet climate targets, the authors propose using VCMs as levers for clean energy access, rural development, and climate-smart infrastructure. Recommendations include intergovernmental coordination, fair benefit-sharing models, and digital registry innovation.