Climate change: Africa has a major new carbon market initiative - what you need to know

By Jonathan Colmer, Assistant Professor of Economics, University of Virginia

Climate finance for the African continent got a boost at the 2022 United Nations Climate Conference (COP27), with the launch of the African Carbon Markets Initiative. This aims to make climate finance available for African countries, expand access to clean energy, and drive sustainable economic development.

Led by a 13-member steering committee of African leaders, chief executives and industry specialists, the initiative promises to expand the continent’s participation in voluntary carbon…

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