Against this backdrop, there is growing concern that the carbon market has failed Africa and other developing countries in the global South. Governments and companies created carbon market systems to address their greenhouse emissions – a trading system in which carbon credits are sold and bought. ACMI seeks to capture more of Africa’s potential in carbon markets by addressing the challenges to voluntary carbon market growth and building the foundations for a thriving voluntary carbon market ecosystem in Africa by 2030. This week, JSE Ventures launched South Africa’s first carbon market at the Johannesburg Stock Exchange. The carbon market allows big polluters to keep doing so with no overall reduction in their emissions.

Source: The North Africa Journal November 12, 2023 12:35 UTC