In our regular feature Heather McEwan, Senior Manager – Project Developer Engagement for Verra South Africa responds to our Big Question: Are carbon markets the correct solution for Africa? Climate effects are limiting the ability of African countries from sustainably developing and utilising their resources to benefit their people. Until we reach a global consensus on carbon emission reductions, the VCM will remain the most effective means to drive finance to African climate projects. The VCM can help fund climaTe projects that spur reforestation and forest conservation, investments in renewable energy, carbon-storing agricultural practices and direct air capture across Africa. Despite recent volatility, VCM demand more than doubled over the past year, with nature-based climate projects leading the way.

Source: The North Africa Journal May 17, 2024 03:36 UTC