The proposal of carbon markets and the commodification of Africa’s forests and bio-resources as solutions to Africa’s climate finance challenges is counterproductive. Therefore, African peoples and leaders must stand against the commodification of their forests and bio-resources through carbon markets. The above observations formed part of the outcome of the second annual National Conference on Climate Change, organised by Corporate Accountability and Public Participation Africa (CAPPA), ahead of COP28. The keynote address at the event entitled Loss and Damage Fund and the Quest for Sustainable Climate Finance Mechanism, delivered by Prof Lanre Fagbohun, Former Vice Chancellor, Lagos State University emphasised the urgent need for a sustainable climate finance mechanism for Nigeria and extension, Africa. He emphasized that Africa must adopt the social energy manifesto outlined by frontline communities and vulnerable populations in the Global South.

Source: Nigerian Tribune November 02, 2023 01:02 UTC