Carbon Market Economies: Crafting a New Narrative of Opportunity and Sustainable Growth for Climate Action in Africa

Denton, Fatima; Arko, Thelma; Moyo, Qondi; Bombande, Maria-Ancilla; Tekie, Bruk; Tornyie, Ferdinand (2024). Carbon Market Economies: Crafting a New Narrative of Opportunity and Sustainable Growth for Climate Action in Africa. UNU-INRA.

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  • Author Denton, Fatima; Arko, Thelma; Moyo, Qondi; Bombande, Maria-Ancilla; Tekie, Bruk; Tornyie, Ferdinand
    Title Carbon Market Economies: Crafting a New Narrative of Opportunity and Sustainable Growth for Climate Action in Africa
    Publication Date 2024-12-04
    Place of Publication Accra
    Publisher UNU-INRA
    Pages 24
    Language eng
    Abstract Voluntary Carbon Markets (VCMs) have become a crucial tool in global climate finance and strategies to reduce emissions. Nevertheless, implementing these solutions in Africa involves taking complex socio-political and economic factors into account. This paper provides a critical analysis of the political economy of VCMs in Africa by synthesising key interviews with policy-makers and leading experts in climate and development discourse. It explores the tensions between market-oriented approaches and the need for sustainable development, providing insights into questions of equity, governance, and the monetization of natural resources. The findings highlight the importance of adopting a new perspective that focuses on fair and sustainable solutions, prioritizing the interests of local communities and genuine climate action rather than profit-driven imperatives.
    Copyright Holder United Nations University Institute for Natural Resources in Africa
    Copyright Year 2024
    Copyright type All rights reserved
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    Created: Thu, 05 Dec 2024, 22:00:54 JST by Qondi Moyo on behalf of UNU INRA